Pakistan has signed a memorandum of understanding with crypto exchange Binance to explore tokenizing up to $2 billion in government-held real-world assets. Reported by Reuters, the proposed program could cover sovereign bonds, treasury bills and commodity reserves such as oil, gas, metals and other raw materials, with the aim of boosting liquidity and attracting foreign investors.
Finance Minister Muhammad Aurangzeb said the initiative could involve assets valued at as much as $2 billion, though any final plan still requires approval. Officials say tokenization is intended to increase transparency, improve liquidity and give Pakistani assets easier access to international markets. Aurangzeb described the MoU as evidence of Pakistan’s reform-oriented economic direction and as the start of a long-term partnership with Binance.
Binance founder Changpeng Zhao welcomed the agreement, calling it a positive signal for the global blockchain industry and for Pakistan, and suggesting it could lead to broader tokenization efforts.
Separately, Pakistan’s Virtual Assets Regulatory Authority (PVARA) has given initial clearance for Binance and crypto exchange HTX to register with local regulators as they prepare formal applications for full exchange licenses. PVARA reviewed the governance and compliance frameworks of both platforms before granting these early approvals.
PVARA Chairman Bilal bin Saqib said the clearances mark the beginning of a phased licensing process and stressed that platforms with strong compliance records will be the ones to proceed. The move forms part of a wider digital finance overhaul that includes creating the Pakistan Crypto Council, establishing PVARA, drafting a formal licensing regime, planning a central bank digital currency pilot, and proposing a Virtual Assets Act.
Industry figures have noted Pakistan’s growing role in digital assets. Michael Saylor, co-founder of the Bitcoin proxy firm Strategy, has praised the country’s efforts, and PVARA has said Pakistan ranks among the world’s largest retail cryptocurrency markets by activity.
At the time of writing, Binance’s native token BNB was trading around $878, roughly 35% below its all-time high above $1,369.