To leverage emerging fintech to strengthen Pakistan's capital markets and enhance global investor access, the Ministry of Finance of Pakistan today signed a Memorandum of Understanding (MoU) with Binance Investment Ltd., one of the world's leading blockchain and digital asset technology companies.
The MoU was signed at the Ministry of Finance in Islamabad, with Senator Muhammad Aurangzeb, Pakistan's Federal Minister of Finance and Taxation, and Mr. Richard Teng, CEO of Binance, in the presence of Mr. Changpeng Zhao, advisor to the Pakistan Cryptocurrency Council.
The MoU aims to establish a framework for exploring potential cooperation in the tokenization and blockchain-based allocation of Pakistan's physical and sovereign assets, including government bonds, treasury bills, commodity reserves, and other federally owned assets. Subject to compliance with applicable laws, policies, and regulations, the initiative could involve assets up to $2 billion, with the goal of improving liquidity, transparency, and international market access.
Under the proposed arrangement, Binance and its affiliates will provide technical expertise, advisory support, training, and capacity building to help Pakistan assess compliant and modernized blockchain infrastructure. This collaboration aims to explore secure and transparent digital platforms to facilitate broader international investor participation while fully respecting Pakistan's regulatory framework and sovereign controls.
In his address, Senator Muhammad Aurangzeb stated that the Memorandum of Understanding (MOU) is a powerful signal of Pakistan's reform process. "This is a very important message not only for Pakistan but also for the world. The agreement we signed today embodies a long-term partnership. From the initial conception to the final implementation, none of this would have been possible without positive guidance and leadership. Our next step is execution." "We are committed to delivering results efficiently and effectively," he said, while expressing gratitude for the vision and support of Pakistan's top leadership.
Mr. Changpeng Zhao (CZ) called the MOU a milestone for Pakistan's future development. "This is an exciting signal for the global blockchain industry and for Pakistan. It will have a profound impact on Pakistan's future and its technology-driven generation. This is just the beginning… Now we can begin full deployment and execution. We are honored to work with the Pakistani leadership and believe this collaboration will bring positive and lasting results to the Pakistani economy," he said.
The MOU is non-binding and only reflects the willingness of both parties to explore feasibility. Any final agreement will be negotiated within six months, subject to all legal, regulatory, and policy approvals. Any future arrangements will be governed by Pakistani law and will not constitute an exclusive agreement or procurement commitment.
This cooperation demonstrates Pakistan's commitment to responsible financial innovation, strong governance, and compliance.