Catenaa, Wednesday, December 17, 2025- Pakistan recently signed a memorandum of understanding (MoU) with Binance to explore tokenizing up to $2 billion in state-owned assets and advancing plans for a national stablecoin.

Under the agreement, Binance will advise on blockchain-based distribution of sovereign bonds, treasury bills, and commodity reserves including oil, gas, and metals.

Finance Minister Muhammad Aurangzeb described the MoU as a step toward a “long-term partnership” with Binance, emphasizing commitment to fast, high-quality execution.

The agreement is non-binding and requires formal contracts within six months, subject to regulatory approval.

Binance founder Changpeng Zhao said the MoU signals Pakistan’s move toward full deployment of its tokenization initiative.

Alongside the MoU, Pakistan’s regulator granted preliminary clearances to Binance and HTX, allowing them to register with the country’s Anti-Money Laundering system and prepare full license applications, though full operations are not yet permitted.

The initiative complements Pakistan’s wider digital asset agenda.

The country ranks as the world’s third-largest crypto market by retail activity, with an estimated 40 million users and annual trading volume exceeding $300 billion.

Pakistan is also planning a sovereign stablecoin to collateralize government debt and is piloting a central bank digital currency.

These developments follow recent regulatory steps, including the establishment of the Pakistan Crypto Council and the Pakistan Virtual Assets Regulatory Authority (PVARA), as well as prior agreements exploring stablecoin infrastructure and real-world asset tokenization.