Pakistan’s virtual asset regulator has received 70 applications from companies seeking crypto licenses under the country’s new regulatory framework. Bilal Bin Saqib, Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA) and CEO of the Pakistan Crypto Council, shared the figure with TechJuice during an interview.
Saqib said PVARA opened its licensing process within six months of the virtual assets law being passed by Parliament. He added that the authority has received strong interest from global and local companies.
The 70 applications reportedly include several major international crypto exchanges. Binance is also expected to be among the top exchanges that have applied for a license under Pakistan’s new framework.
Saqib said the strong response shows growing interest in Pakistan’s regulated digital asset market. He added that the country wants to build a sector with a strong global presence.
The licensing effort is not focused only on companies operating within Pakistan. Instead, the regulator wants to attract established global players while also giving local businesses a path into the industry.
During the interview, Saqib also discussed the future of digital assets for Pakistani freelancers and startup founders. He said AI and digital assets could become increasingly connected.
“Everything is being redefined, especially digital assets and AI,” Saqib said. He said both technologies are closely linked and could shape new forms of digital commerce.
Saqib expects AI systems to create more economic value in the future. As that happens, he believes AI could also begin handling transactions through digital assets.
He encouraged Pakistan’s young workforce to focus on these emerging technologies. According to Saqib, the country has an opportunity to build new payment systems for the global market.
He said Pakistan could become a place where agentic payment workflows are developed. These systems could eventually serve users and businesses around the world.
The 70 applications mark an early step for Pakistan’s regulated crypto market. The participation of major exchanges could also help the country attract more global digital asset businesses.
