Pakistan Appoints Binance Co-Founder as Strategic Adviser in Crypto Innovation

By: Eliza Bennet

Pakistan has taken a significant step towards embracing digital finance by appointing Binance co-founder Changpeng "CZ" Zhao as a strategic adviser to its newly established Pakistan Crypto Council. The appointment showcases the nation's commitment to becoming a powerhouse in blockchain innovation. Chaired by Finance Minister Muhammad Aurangzeb, a recent meeting in Islamabad revealed Zhao's new role, marking a milestone in Pakistan's efforts to develop a robust digital economy.

The Pakistan Crypto Council, formed under the Finance Division in March, aims to streamline the country's adoption of blockchain technology and digital assets. The council's chief executive, Bilal Bin Saqib, highlighted Zhao's addition as a major endorsement that positions Pakistan for long-term digital growth in the web3 economy. Zhao will provide expert guidance on regulatory frameworks, infrastructure development, education, and digital asset adoption, working closely with both government agencies and the private sector to cultivate a secure and inclusive crypto ecosystem.

Zhao's involvement is expected to bridge connections between the financial and regulatory bodies in Pakistan, aligning its goals with global crypto regulations like those seen in financial hubs such as Singapore and the UAE. During his visit, Zhao also engaged in separate discussions with Prime Minister Shehbaz Sharif and Deputy Prime Minister Senator Ishaq Dar, further solidifying the strategic partnership.

With a population exceeding 240 million, more than half of whom are under 30, Pakistan has a vast untapped demographic advantage in the tech-savvy market. The country ranks among the top ten globally for crypto adoption, with over 20 million users and annual transaction volumes over $20 billion, presenting strong opportunities for integrating blockchain into its cross-border financial systems. This move is anticipated to propel Pakistan to the forefront of the digital revolution, ensuring alignment with cutting-edge financial technologies and fostering a thriving crypto economy. For more information on Binance and its developments, visit Binance.