Crypto Deal: Pakistan and Binance Sign MoU on Tokenizing State Assets; plan covers up to $2 billion – The Times of India

Pakistan on Friday signed a Memorandum of Understanding (MoU) with global crypto exchange Binance to explore tokenization of sovereign and real assets up to $2 billion. This marks one of the country’s most significant steps towards adopting blockchain-based financial infrastructure, PTI reported.The MoU was signed at the Finance Department by Finance Minister Muhammad Aurangzeb and Binance CEO Richard Teng, the Finance Ministry said in a statement. The agreement aims to assess the feasibility of digitizing Pakistan’s assets – including government bonds, treasury bills, commodity reserves and other federal assets – through blockchain platforms.According to the ministry, the proposed collaboration aims to “improve liquidity, transparency and international market accessibility,” with each step subject to Pakistani laws, policies and regulatory approvals. The MoU is non-binding, has no exclusivity and does not imply a procurement obligation. If final agreements are pursued, negotiations will take place within six months.Officials said the arrangement could enable Binance and its affiliates to provide technical expertise, advisory support, training and capacity building to help Pakistan evaluate compatible blockchain infrastructure that can attract global investors while ensuring full sovereign control.Calling the MoU an important signal of the government’s reform direction, Aurangzeb said: “This is a very strong message – not just for Pakistan, but for the entire world. What we signed today reflects a long-term partnership… The next step for us is execution, and we are fully committed to delivering results with speed and quality.”Advisor to the Pakistan Crypto Council Changpeng Zhao, who was present at the signing, called the development “a milestone” for Pakistan’s financial future. “This is a great signal for the global blockchain industry and for Pakistan… now we can move to full implementation and execution,” he said, expressing confidence that the collaboration would have “positive and lasting results for the economy.”The ministry added that the initiative marks an important milestone in aligning Pakistan’s financial ecosystem with global best practices at a time when tokenization is gaining popularity globally.In addition, Pakistan’s Virtual Assets Regulatory Authority (PVARA) said it has issued No Objection Certificates to Binance and HTX, launching a phased, FATF-aligned route to full licensing. “Strong governance, AML and CFT compliance remain central as Pakistan builds a trusted digital asset ecosystem,” PVARA said on X.The authority said Pakistan has taken a “decisive step” towards a regulated framework for digital assets by entering into formal agreements with Binance and HTX.