Pakistan and Binance Sign MoU to Tokenize $2 Billion in Government Assets
Binance has signed a memorandum of understanding (MoU) with the Pakistan government to tokenize up to $2 billion worth of state-owned assets, including bonds, treasury bills, and commodity reserves. This initiative is part of Pakistan's broader effort to leverage blockchain technology to unlock liquidity, attract foreign investment, and establish a formal regulatory framework for cryptocurrencies.
The agreement signals the start of a tokenization initiative that could expand to additional government-owned real-world assets distributed on blockchain platforms. This movement aligns with global trends where regulatory bodies in regions such as the UAE, Japan, and parts of the EU are tightening regulations and expanding licenses for crypto exchanges.
Binance founder Changpeng Zhao described the agreement as a strong signal for both the global blockchain industry and Pakistan. Meanwhile, VARA Chair Bilal Bin Saqib highlighted plans to accelerate crypto adoption in Pakistan by leveraging Bitcoin mining and launching a national stablecoin.
VARA has issued early approvals to Binance and HTX allowing them to register on the anti-money laundering system, establish local units, and prepare full applications for operating in Pakistan. The Finance Ministry stated that the initiative could pave the way for future tokenization of additional government assets on blockchain platforms.
