Pakistan considers tokenizing Eurobond debt — The Express Tribune
Pakistan’s Ministry of Finance and government are considering the possibility of tokenizing the country’s existing Eurobond debt. This was stated by Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, The Express Tribune reports.
At a dialogue on digital assets and the future of banking, organized in Karachi by the Pakistan Banks’ Association and LUMS, the minister called on banks to introduce digital assets responsibly. At the same time, restrictions on banks investing in, trading, or holding virtual assets using their own funds or clients’ funds will remain in force.
Regulation of digital assets
Aurangzeb stressed that financial innovation should help reduce the cost of remittances, speed up payments for businesses, make financing more accessible for entrepreneurs, and increase productive investment. According to him, digital transformation must be accompanied by reliable regulatory safeguards, financial stability oversight, and institutional supervision so that technological development does not create excessive risks.
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Pakistan adopted the Virtual Assets Act 2026, which granted the Pakistan Virtual Assets Regulatory Authority the power to license and supervise service providers related to such assets. The minister named the effective implementation of the rules through proper oversight and coordination among institutions as the next priority.
Conditions for banks
The State Bank of Pakistan introduced a conditional framework for providing banking services to licensed entities. It provides for due diligence and the segregation of client funds. Accounts for entities holding no-objection documents will have a limited purpose until licensing is completed, while banks will continue to be responsible for complying with foreign exchange requirements.
The minister also noted that tokenization could improve remittance channels, including transactions related to Roshan Digital Accounts. During the previous financial year, Pakistan received $41.6 billion in remittances, and first-quarter trends indicate that their volume could exceed $44 billion.
