Pakistan has called for developing economies to play a greater role in shaping the future of tokenized finance, urging global policymakers at the Point Zero Forum in Zurich to ensure emerging markets have a voice in setting standards for digital financial systems. The Pakistan Virtual Assets Regulatory Authority (PVARA) made the announcement on Saturday, highlighting the country's position as one of the world's largest digital asset markets.
Pakistan's Digital Asset Market
According to China Analytics' 2025 Global Crypto Adoption Index, Pakistan ranks third globally in public crypto adoption, behind only India and the United States. Factors driving this adoption include a young, mobile-first population, one of the world's largest freelance economies, over $38 billion in annual remittances, and the growing use of stablecoins as a hedge against inflation.
PVARA Chairman's Address at the Forum
PVARA Chairman and State Minister Bilal bin Saqib took centerstage at the Point Zero Forum, which ran from June 23 to June 25, 2026. He spoke about how the rules of financial systems are being redefined and that Pakistan intends to play its role in shaping these rules. “The financial system is now being automated through software and blockchain, and software knows no borders. We have always thought of money as something that only the state can control. One flag, one border, one currency. That era is coming to an end,” he said.
“Pakistan is adopting a Pakistan First approach to digital assets,” he added. “Our position is that developing economies should play a role in setting the rules for tokenized finance, not simply inherit a framework built elsewhere.”
Panel Discussion on Tokenized Money
Saqib participated in the forum’s panel, ‘Unchaining Tokenized Money: Stablecoins, CBDCs, and the Race for Scale,’ alongside Dr. Mampho Modise, Deputy Governor of the Reserve Bank of South Africa. The session examined where tokenized money has been used, barriers to widespread adoption, and how regulators, banks, and technology providers can create synergy between Central Bank Digital Currencies (CBDCs), stablecoins, and tokenized systems.
Saqib emphasized that in countries where millions are already using digital assets, the question is not whether to allow them but “whether we should be autonomous or leave it to others,” according to PVARA. “Those countries that will succeed will have the courage to say one thing: It’s happened, our people are already here,” he said. “Our responsibility is not to stop economic innovation, but to better manage it.”
High-Level Bilateral Sessions
In addition to the main stage, Saqib participated in several high-level, invitation-only sessions that brought Pakistan into direct dialogue with central bankers and financial leaders from Singapore, Japan, the Philippines, the Gulf region, and Europe. The sessions included the world’s largest banks and prominent digital asset institutions. Discussions focused on how developing economies can leverage the benefits of dollar-denominated tokenized money without giving up fiscal sovereignty, control over payment systems, or oversight of financial flows.
