Pakistan turns to crypto as it seeks to modernize its financial system and attract foreign investment
In a significant move poised to transform Pakistan’s financial landscape, Changpeng Zhao (CZ), the founder of Binance, has been appointed as a strategic advisor to the newly established Pakistan Crypto Council (PCC). This development marks a major step for Pakistan as it positions itself as a regional leader in digital finance and Web3 technologies.
Strategic Partnership for Digital Growth
Zhao’s appointment, announced on April 7, 2025, during his visit to Islamabad, highlights the country’s commitment to embracing digital innovation. As one of the most influential figures in the global cryptocurrency space, Zhao will leverage his vast experience to guide Pakistan’s regulatory framework, infrastructure development, and educational initiatives related to blockchain and cryptocurrency adoption.
CZ shared in a social media post that he’s “honored to help Pakistan adopt crypto” after being appointed Strategic Adviser to the newly-launched Pakistan Crypto Council.
The Finance Minister of Pakistan, Senator Muhammad Aurangzeb, described the appointment as a “landmark moment” for the country. “We are sending a clear message to the world: Pakistan is open for innovation. With CZ onboard, we are accelerating our vision to make Pakistan a regional powerhouse for Web3, digital finance, and blockchain-driven growth,” he said.
The Pakistan Crypto Council, which was formed under the Finance Division, is tasked with regulating the growing cryptocurrency industry and integrating blockchain technology into the nation’s financial system. The PCC aims to create a compliant, inclusive, and globally competitive crypto ecosystem, ensuring that Pakistan is aligned with global best practices.
Pakistan’s potential
Pakistan, home to over 240 million people, boasts a demographic where more than 60% of the population is under the age of 30. This young, tech-savvy generation presents a significant opportunity for digital financial services. Zhao emphasized the immense potential the country offers. “The potential here is limitless,” he remarked.
Bilal Bin Saqib, the CEO of the PCC, echoed Zhao’s sentiment, stating, “Pakistan is opening its doors to the future of finance. And who better to guide us on this journey than CZ — a pioneer who built the world’s largest crypto exchange and changed the way billions think about financial freedom.” Saqib, who has been recognized with the 1632nd Points of Light Award, will play a critical role in integrating cryptocurrency and blockchain technologies into Pakistan’s financial ecosystem.
Bilal Bin Saqib, a renowned Web3 investor and strategic adviser, was appointed as the chief adviser to the finance minister on the Pakistan Crypto Council in March of this year. Bilal has been recognized for his entrepreneurial efforts and innovation, particularly his work in Blockchain For Good, linking Non-Fungible Token (NFTs) with real-life humanitarian causes.
Pakistan seeks international investment
The partnership with Zhao is particularly significant as Pakistan strives to attract foreign investment in the wake of the country’s recent financial instability. In 2023, Pakistan narrowly avoided a financial default, prompting the government to explore new avenues for investment and economic recovery.
To this end, the government is drafting a legal framework for cryptocurrency trading, which is expected to attract international investors and boost the local economy. Although cryptocurrencies are not officially regulated in Pakistan, they are not banned, and the government has taken steps to create a more formalized structure for crypto transactions.
CZ’s role in Shaping the Future of Crypto in Pakistan
As a strategic advisor, Zhao’s role will be instrumental in advising the PCC on a range of issues, including regulation, infrastructure, and adoption strategies. His global expertise will be crucial in ensuring that Pakistan develops a robust crypto ecosystem that is competitive on the world stage.
The appointment follows Zhao’s recent efforts to expand blockchain growth internationally, including a memorandum of understanding (MoU) with Kyrgyzstan’s National Investment Agency (NIA) to boost blockchain initiatives in the Central Asian country.
Zhao’s involvement with the Pakistan Crypto Council signals a new era for Pakistan’s digital economy. With the support of international experts like Zhao, the country is poised to capitalize on the rapid growth of Web3, digital finance, and blockchain technologies. The collaboration between Pakistan and the Binance founder is not only a strategic move to modernize the financial ecosystem but also a clear signal to the global community that Pakistan is ready to embrace the future of finance.