Pakistan Opens Crypto Market for Global Companies

Pakistani government has introduced a regulatory framework for global crypto companies to operate by creating the Pakistan Virtual Assets Regulatory Authority (PVARA). The initiative invites licensed firms to a market with over 40 million users and nearly $300 billion in annual trading volume.

Pakistan has formally opened its crypto sector to global companies through the Pakistan Virtual Assets Regulatory Authority (PVARA) under the Virtual Assets Ordinance 2025. This allows global firms to apply for operating licenses in a controlled market.

This announcement marks Pakistan’s shift towards regulated crypto activities, aligning with international standards. Initial market reactions are optimistic about growth potential.

The Pakistani government’s decision introduces the Pakistan Virtual Assets Regulatory Authority, enabling foreign firms to apply for licenses and conduct business within the country. This framework is intended for firms with licenses from major regulators.

Global companies including exchanges will now compete to enter Pakistan’s crypto market, estimated at a trading volume of $300 billion annually. PVARA will govern this, working alongside existing bodies to ensure compliance.

Pakistan’s crypto market, serving over 40 million users, is now positioned to attract institutional investments, setting the stage for enhanced innovation and increased activity. Stablecoins are expected to play a crucial role in remittances and trade.

The regulatory changes may bring new investments and technological advancement, although the actual impact depends on the uptake by notable global exchanges. Pakistan’s approach follows a trend seen in other emerging crypto-friendly markets.

Chairman Bilal bin Saqib emphasizes transparency and compliance as cornerstones of the new framework, aiming for global participation in building a digital financial future. Here’s a quote from him reinforcing this stance:

This EoI is our invitation to the world’s leading VASPs to partner in building a transparent and inclusive digital financial future for Pakistan. – Bilal bin Saqib, Chairman, PVARA

Pakistan’s bold strategy could redefine its financial landscape and integrate further into global markets.