Bitcoin and Blockchain: The Future of Pakistan’s Financial System, Says Minister

Bitcoin and Blockchain: The Future of Pakistan’s Financial System, Says Minister

Pakistan views Bitcoin and digital assets as essential components of a new financial framework for its 240 million citizens, according to a senior official at the Bitcoin MENA Conference. This indicates a significant move towards the formal regulation of cryptocurrency markets.

Key Takeaways:

Pakistan is looking to Bitcoin and digital assets to create a new financial system.
Bilal Bin Saqib, chairman of the Virtual Asset Regulatory Authority, aims to regulate the large unregulated crypto market in Pakistan.
The country is seeing rapid crypto adoption, ranking third in the Chainalysis 2025 Global Crypto Adoption Index.
Pakistan is promoting economic growth by establishing a Bitcoin reserve and allocating surplus electricity for crypto and AI projects.

A New Beginning for Pakistan’s Economy

Bilal Bin Saqib, chairman of Pakistan’s Virtual Asset Regulatory Authority (PVARA) and former special assistant to the prime minister for blockchain and crypto, stated that Pakistan can no longer depend on traditional economic models. During a discussion in Abu Dhabi, he stressed the necessity for “a new engine,” highlighting digital assets as vital for the country’s financial transformation.

Saqib emphasized that with 70% of Pakistan's population under 30 years old, there is considerable potential to create a regulated crypto ecosystem, positioning Pakistan as a leader rather than a “late adopter” in the crypto space. “If El Salvador can do it with 6 million people, imagine what Pakistan can achieve with 40 times that population,” he asserted, referencing the nation’s unique and rapidly growing digital landscape in Asia.

Pakistan
Derar Islim (left) and Bilal Bin Saqib (right) at the Bitcoin 2025 MENA Conference. Source: Bitcoin Magazine

Rapid Growth of Cryptocurrency in Pakistan

Pakistan has quickly established itself as one of the fastest-growing cryptocurrency markets globally, moving up six spots to rank third in the 2025 Global Crypto Adoption Index by Chainalysis. In May, Saqib announced plans for the country to create a strategic Bitcoin (BTC) reserve and pursue more favorable regulatory policies for cryptocurrencies.

Alongside these announcements, Pakistan allocated 2,000 megawatts of surplus electricity to facilitate Bitcoin mining and AI data centers as a part of its broader digital transformation strategy. Financial officials believe this initiative will draw foreign investment and foster new high-tech job opportunities by channeling excess electricity into AI and cryptocurrency infrastructure.

In September, Pakistan reached out to global crypto firms, inviting them to apply for licenses under its new federal regulatory framework. The PVARA issued requests for expressions of interest from major exchanges and service providers interested in entering the Pakistani market.

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