Pakistan signs agreement with Binance to explore ‘tokenization’ of up to $2 billion assets
ISLAMABAD: Pakistan and global crypto exchange Binance signed a memorandum of understanding (MoU) on Friday to explore what it said was the “tokenization” of up to $2 billion in sovereign bonds, treasury bills and commodity reserves to boost liquidity and attract investors, the finance ministry said.
The development took place hours after the Pakistan Virtual Assets Regulatory Authority (PVARA) granted no objection certificates (NOCs) to Binance and HTX, another global crypto exchange.
“The MoU establishes a framework for exploring potential collaboration on the tokenization and blockchain-based distribution of Pakistan’s real-world and sovereign assets, including government bonds, treasury bills, commodity reserves and other federally owned assets,” the finance ministry said.
“Subject to applicable laws, policies and regulatory approvals, the initiative may involve assets of up to USD 2 billion, with the objective of enhancing liquidity, transparency and international market accessibility.”
