Pakistan has officially invited the world’s largest crypto companies to enter its digital asset market under a new federal licensing regime. The Pakistan Virtual Asset Regulatory Authority (PVARA) announced that it is seeking Expressions of Interest (EoIs) from major exchanges and virtual asset service providers (VASPs) already licensed by top global regulators.

“This is our invitation to the world’s leading firms to help build a transparent and inclusive digital financial future for Pakistan,” said Bilal bin Saqib, PVARA chair and minister of state for crypto and blockchain.

Only companies licensed by recognized regulators such as the US SEC, UK Financial Conduct Authority, the EU, UAE’s VARA, and Singapore’s MAS will be eligible. Applicants must submit detailed company profiles, services offered, existing licenses, security standards, revenues, compliance records, and tailored strategies for Pakistan’s market.

The authority, formed under the Virtual Assets Ordinance 2025, has been tasked with licensing and supervising the industry in line with global standards from the Financial Action Task Force, IMF, and World Bank. Officials said the framework aims to curb illicit finance while opening opportunities in fintech, remittances, tokenization, and Shariah-compliant digital products.

Pakistan has emerged as a major player in crypto adoption, ranking third globally in Chainalysis’ 2025 Global Crypto Adoption Index. Earlier this year, the government revealed plans to create a Bitcoin Strategic Reserve and allocated 2,000 megawatts of surplus electricity to support Bitcoin mining and AI data centers.

Despite enthusiasm at home, the International Monetary Fund raised red flags in July, warning against subsidized energy use for crypto mining. Even so, Pakistan’s latest move signals one of the boldest shifts toward crypto integration in the region, positioning the country as a potential global hub.