Pakistan has appointed Changpeng Zhao, more popularly known as CZ and the founder of Binance, as a strategic adviser to its newly formed Pakistan Crypto Council (PCC). This step will turn the country into a blockchain and crypto innovation hub.
The high-level meetings that led to the appointment took place between CZ and Finance Minister Muhammad Aurangzeb and other officials, including Prime Minister Shehbaz Sharif and Deputy Prime Minister Ishaq Dar, according to Pakistan’s Finance Division. The government views this partnership as a pivotal moment in shaping Pakistan’s future in the rapidly evolving crypto space.
Pakistan’s Finance Minister Aurangzeb said that with CZ’s vision and skills, we will position the country well in digital finance and Web3. The country is working hard to become a regional hub for the growth of blockchain and technology.
CZ, who founded the world’s biggest cryptocurrency exchange, is expected to assist the PCC in formulating strong crypto regulations, building blockchain infrastructure, and creating public awareness of digital assets. “His job will be working with public and private sector parties to make Pakistan’s crypto sector secure, inclusive, and competitive globally.
The PCC was officially launched in March this year with a mandate to integrate blockchain and digital assets into Pakistan’s financial system. Bilal Bin Saqib, a well-known businessman and the current CEO of the Council, reported that Pakistan is no longer merely a spectator. Pakistan has youth who are well-adapted to tech along with an adaptive mind. So, according to him, it will lead.
The crypto market of Pakistan is feasible given its population, remittance, and more influx with the rising digital currency interest. In light of the falling value of currency, a lot of people are now using cryptocurrency stablecoins to save their wealth and to transact faster and easier.
CZ being involved is expected to enhance investment confidence and grow the international attention of Pakistan’s crypto ecosystem. His background and influence in the blockchain space are expected to contribute to making it a Web3-friendly economy.
Pakistan recognized the power of blockchain technology as an enabler to transform its economy and become a player in the future of finance on the international stage.
