Islamabad, September 13, 2025 – The government of Pakistan has opened its doors to international digital firms by inviting Expressions of Interest (EoIs) from Virtual Asset Service Providers (VASPs) and exchanges looking to operate in the country.
The initiative has been launched by the newly formed Pakistan Virtual Asset Regulatory Authority (PVARA) under the Virtual Assets Ordinance, 2025.
Officials said this step is aimed at building a safe, transparent, and innovative ecosystem for virtual assets in Pakistan, in line with global standards set by the FATF, IMF, and World Bank. With more than 40 million users and an estimated trading volume exceeding $300 billion annually, the local market is viewed as one of the most promising opportunities in the region.
The Ordinance, introduced in July 2025, empowers PVARA to license and regulate VASPs, ensuring strict compliance with anti-money laundering and counter-terrorism financing rules. It also creates room for innovation through regulatory sandboxes, including Shariah-compliant virtual finance products.
“This call for EoIs is our invitation to the world’s leading VASPs to help build an inclusive and transparent digital financial future for Pakistan,” said Bilal bin Saqib, Chairman of PVARA and Minister of State for Crypto and Blockchain.
To qualify, firms must already be licensed in at least one recognized international jurisdiction such as the US, UK, EU, UAE, or Singapore. They must also demonstrate proven compliance in areas like AML, KYC, and cybersecurity before entering Pakistan’s virtual economy.