Pakistan is taking a major step toward integrating digital assets into its financial system with the launch of the Pakistan Virtual Assets Regulatory Authority (PVARA). Established in July, this new regulatory body has officially invited global cryptocurrency companies to apply for licenses to operate in the country, targeting a vast market of more than 40 million active crypto users. The move positions Pakistan as one of the fastest-growing emerging markets in the blockchain and digital asset economy.
To qualify for a license, companies must already be recognized by regulators in major jurisdictions such as the United States or the European Union. Applicants will need to submit detailed information about their existing licenses, operational frameworks, cybersecurity protocols, compliance records, and strategies for serving Pakistan’s expanding digital asset community. By establishing strict requirements, PVARA aims to ensure that only credible and well-established firms gain access to the local market.
The regulator highlights that Pakistan’s crypto ecosystem is thriving, with an estimated $300 billion in annual trading volume. This makes the country not only one of the largest untapped markets in the region but also one of the most dynamic frontiers for blockchain adoption worldwide. The government sees licensing as a pathway to formalize the industry, protect investors, and attract foreign investment, all while boosting Pakistan’s standing in the global Web3 landscape.
In addition to the licensing initiative, Pakistan has taken several steps to embrace digital assets. Earlier this year, Binance co-founder Changpeng “CZ” Zhao was appointed to a government advisory post, signaling the state’s intent to align with global crypto leaders. The country has also formed a crypto council, announced plans to expand Bitcoin mining, and even floated the idea of creating a strategic Bitcoin reserve under government management. These moves suggest that Pakistan is no longer on the sidelines but is preparing to play a significant role in the future of decentralized finance.
Industry experts believe the introduction of a licensing framework could open the floodgates for international exchanges, custodians, and blockchain startups to establish operations in Pakistan. By doing so, they would gain access to a massive, underserved population eager for secure, regulated crypto services.
Conclusion: Pakistan’s launch of PVARA marks a turning point for the country’s digital asset economy. By inviting licensed global players to enter the market, the nation is not only addressing security and compliance concerns but also unlocking one of the largest frontier opportunities in crypto adoption worldwide. If executed effectively, this strategy could place Pakistan at the forefront of the next wave of global blockchain growth.
