Catenaa, Monday, September 15, 2025- Pakistan’s new crypto regulator has invited global digital asset companies to apply for licenses, offering access to what officials estimate as 40 million local users in one of the world’s largest untapped markets.
The Pakistan Virtual Assets Regulatory Authority, or PVARA, established in July under the Virtual Assets Ordinance, said only firms already licensed in major jurisdictions such as the United States, European Union or Singapore may apply.
The finance ministry issued the call Saturday, describing the market as among the world’s most dynamic frontiers.
Applicants must meet minimum capital requirements, maintain strict security standards and run compliance programs. Their services must also comply with Sharia principles under oversight from Islamic finance scholars. Bilal bin Saqib, chairman of PVARA and minister of state for crypto and blockchain, called the licensing drive an invitation to the world’s leading firms to help shape a transparent digital economy in Pakistan.
Authorities estimate annual trading volume exceeds $300 billion in the domestic market. Firms seeking licenses must provide details of their current approvals, operations, technology, security systems and compliance track records, along with their plans for serving Pakistani users.
Islamabad has warmed to crypto in recent months, forming a national crypto council, naming Binance co-founder Changpeng Zhao to an advisory post and exploring a government-led Bitcoin reserve. The licensing push signals a major step toward formalizing Pakistan’s growing role in digital finance.
