Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman and Minister of State Bilal Bin Saqib has declared that Pakistan intends to play a role in redefining the principles of the global financial system, which is increasingly becoming automated through software and blockchain. Speaking on the main stage at the Point Zero Forum 2026 in Zurich, Saqib noted that software does not recognise borders, challenging the traditional view of money as under exclusive state authority.
Key Message at Point Zero Forum
Addressing a gathering of central bankers, regulators and financial leaders, Saqib stated: "We have always understood money as something controlled solely by the state – one flag, one border, one currency. That era is now ending." He emphasised that Pakistan aims to contribute to the formation of new financial system principles, rather than passively inheriting frameworks created elsewhere. According to a statement issued by PVARA on Saturday, Saqib's stance was clear: in countries where millions already use digital assets, the question is no longer whether to allow them, but whether to maintain sovereignty over them or leave them to others.
Pakistan's Digital Asset Strategy
Saqib outlined a "Pakistan-first strategy on digital assets," asserting that developing economies must help define the principles of tokenised finance. "Our position is that developing economies must help define the principles of tokenised finance rather than passively inheriting frameworks created elsewhere. The countries that succeed will be those that can openly acknowledge reality: this has already happened, our people are already here," he said. He added, "Our responsibility is not to stop economic innovation, but to manage it better."
High-Level Discussions
Beyond the main stage, Saqib participated in invitation-only sessions with central bankers and financial leaders from Singapore, Japan, the Philippines, the Gulf region and Europe. Major global banks and digital asset institutions were also present. Discussions focused on how developing economies can benefit from dollar-denominated tokenised money without compromising monetary sovereignty, control over payment systems or visibility over financial flows.
Pakistan's Crypto Adoption Ranking
According to Chainalysis' 2025 Global Crypto Adoption Index, Pakistan ranks third globally in grassroots crypto adoption, behind only India and the United States. Contributing factors include a young, mobile-first population, one of the world's largest freelance economies, over $38 billion in annual remittances, and the growing use of stablecoins as a hedge against inflation. Saqib noted that Pakistan did not adopt digital assets as a result of regulation; it adopted them first and is now developing regulations accordingly.
Panel on Tokenised Money
Saqib also participated in a panel moderated by Central Banking Publications, alongside Deputy Governor of the South African Reserve Bank Dr Mampho Modise. The session examined where tokenised money is already in use, barriers to large-scale adoption, and how regulators, banks and technology providers can create interoperability between central bank digital currencies (CBDCs), stablecoins and tokenised systems.
About Point Zero Forum and PVARA
Now in its fifth year, the Point Zero Forum is an annual policy and technology gathering organised by the Global Finance and Technology Network and the State Secretariat for International Finance of Switzerland, in collaboration with the BIS Innovation Hub, the Monetary Authority of Singapore and the Swiss National Bank. The 2026 edition was held at Kongresshaus Zurich, with participation from over 2,000 central bankers, regulators, policymakers and industry leaders. PVARA is the federal authority responsible for licensing and supervising virtual asset service providers in Pakistan.
