Changpeng ‘CZ’ Zhao, co-founder of Binance, has been appointed as a strategic adviser to the newly established Pakistan Crypto Council. Government representatives hailed this decision as a significant advancement in the nation’s ambition to emerge as a global frontrunner in blockchain innovation.
The announcement regarding Zhao’s appointment was made on April 7 after a meeting led by Finance Minister Muhammad Aurangzeb in Islamabad.
The gathering included senior officials from various financial and regulatory authorities in Pakistan, such as the leadership of the State Bank of Pakistan, the Securities and Exchange Commission, and key federal ministries, including law and information technology.
Aurangzeb commented:
“This is a crucial turning point for Pakistan. We are sending a strong message that our country embraces innovation and is dedicated to establishing a modern digital economy.”
In his role as strategic adviser, Zhao will provide expert advice on regulatory frameworks, infrastructure development, education, and the adoption of digital assets. He is anticipated to collaborate closely with both governmental bodies and the private sector to promote a secure and inclusive cryptocurrency ecosystem.
The council’s CEO, Bilal Bin Saqib, noted that Zhao’s participation would enhance Pakistan’s position as a progressive player in the web3 economy.
Saqib expressed:
“Pakistan is welcoming the future of finance. Having CZ onboard is not just a significant endorsement but also a driving force for sustained digital advancement.”
A statement from the Finance Division indicated that during his visit, Zhao also held individual meetings with Prime Minister Shehbaz Sharif and Deputy Prime Minister Senator Ishaq Dar.
Zhao emphasized Pakistan’s demographic strengths, citing its population of over 240 million—more than half of whom are under 30—as indicative of the country’s unexploited digital capabilities.
The Pakistan Crypto Council, which was established under the Finance Division in March, is chaired by the finance minister and comprises senior officials from vital regulatory and legal entities. The council’s objective is to enhance digital asset strategies and create the foundation for responsible blockchain innovation.
Pakistan currently ranks among the top ten countries worldwide for crypto adoption, boasting around 20 million users and yearly crypto transaction volumes surpassing $20 billion. With remittance flows reaching $35 billion annually, officials believe there are considerable prospects for integrating blockchain technology into international financial systems.
Saqib, who has previously represented Pakistan at prominent global blockchain events like NFT NYC and ETH Barcelona, was appointed last month as the finance minister’s chief crypto adviser.
Zhao’s involvement adds significant international credibility to the council’s efforts, aligning Pakistan with regions such as Singapore and the UAE, which are positioning themselves as global centers for digital finance.
Mentioned in this article
