Pakistan recently announced not only the launch of a national stablecoin, but also signed a memorandum of understanding with Binance to assess the tokenization of state-owned assets such as government bonds, treasury bills, and commodities, with a scale of up to $2 billion.
Both parties signed a memorandum of understanding to assess the tokenization of $2 billion in state-owned assets.
Pakistan's Ministry of Finance stated that it has signed a non-legally binding memorandum of understanding with Binance, with Binance acting as an advisor to assist in assessing the tokenization of some of Pakistan's state-owned assets. The tokenized assets include:
Government bonds
Treasury bills
Commodities such as oil, natural gas and metals
The total scale could reach up to $2 billion, and the memorandum focuses on the feasibility of applying blockchain technology in the issuance, allocation, and circulation of government assets. Pakistani Finance Minister Muhammad Aurangzeb stated that the two sides are primarily focused on building a long-term partnership, with the next phase emphasizing practical implementation. He stressed that the government will balance quality and speed in delivering results.
CZ sets the direction for cooperation, but the agreement still requires approval from regulatory authorities.
Binance founder CZ, who currently serves as a strategy advisor to the Pakistan Cryptocurrency Council, stated that this memorandum sends a positive signal not only to Pakistan but also to the global blockchain industry.
CZ points out that this collaboration represents the official launch of Pakistan's full-scale deployment of asset tokenization. However, the memorandum is still a non-binding document, and both parties need to finalize a formal agreement within six months and obtain approval from relevant regulatory authorities.
Binance and HTX have received preliminary approval from the relevant authorities , coinciding with the ongoing regulatory process.
In addition to the memorandum of understanding, the Pakistan Virtual Assets Regulatory Authority (PVARA) is also simultaneously advancing the regulatory process, having already issued "No Objection Certificates" to Binance and HTX, allowing the two exchanges to:
Register with the Anti-Money Laundering (AML) system
Prepare and submit the formal license application
However, neither exchange has yet been officially authorized to operate in the area.
With a large user base, the regulatory approach will be implemented in stages.
PVARA Chairman Bilal bin Saqib pointed out that Pakistan is currently the world's third largest cryptocurrency retail market, with an estimated 40 million users and an annual transaction volume exceeding $300 billion.
He stated that this "phased regulation" approach allows businesses to first offer cross-border services under the AML framework while gradually achieving compliance. Binance also responded that this arrangement aligns with Pakistan's regulatory framework and demonstrates its long-term commitment to supporting the local digital economy.
The launch of a national stablecoin has been confirmed; it will be used as collateral for government debt.
Prior to this, Saqib publicly confirmed at Binance Blockchain Week in Dubai earlier this month that Pakistan "will definitely launch a national stablecoin." During a panel discussion on virtual asset regulation, he stated that the stablecoin will be used for:
Collateral and Structural Design of Government Debt
In conjunction with the central bank's CBDC pilot program
Saqib emphasized that Pakistan does not want to fall behind in the wave of financial digitalization, but rather wants to be at the forefront of innovation.
This article, titled "Pakistan Partners with Binance to Launch 2 Billion Methyl RWA, National Stablecoin Imminent," first appeared on ABMedia, a ABMedia .
