Pakistan, Hong Kong explore cooperation in tokenised capital markets, digital finance
The Pakistan Virtual Assets Regulatory Authority (PVARA), led by Chairman Bilal Bin Saqib, has initiated high-level discussions with Hong Kong financial authorities to explore cooperation in tokenized capital markets and digital finance. Meetings were held with the Hong Kong Monetary Authority (HKMA), the Financial Services and the Treasury Bureau, and Legislative Council member Duncan Chiu to study Hong Kong's regulatory framework for digital assets. The dialogue focused on leveraging Hong Kong's expertise in tokenized bonds, settlement infrastructure, and technology-enabled supervision to support Pakistan's development of government securities and sukuk. Both parties aim to move beyond policy dialogue toward practical cooperation, including technical exchanges and identifying specific use cases for real-world asset tokenization. This initiative is part of PVARA's broader strategy to build institutional relationships and attract credible companies to Pakistan's emerging virtual-asset ecosystem. By connecting Pakistani technology firms with Hong Kong investors, the collaboration seeks to translate regulatory foundations into tangible economic outcomes. This engagement highlights the growing global trend of emerging markets seeking to adopt established institutional frameworks to modernize their financial infrastructure through tokenization.
- PVARA Chairman Bilal Bin Saqib met with HKMA and Treasury officials in Hong Kong.
- Discussions focused on tokenized capital markets, digital bonds, and government securities.
- Pakistan aims to leverage Hong Kong's regulatory infrastructure for its own virtual-asset sector.
- Collaboration includes technical exchanges and identifying specific tokenization use cases.
The Hong Kong Monetary Authority (HKMA) is the central banking institution of Hong Kong, known for its proactive stance on digital finance, including the Project Ensemble initiative for tokenized deposits. The Pakistan Virtual Assets Regulatory Authority (PVARA) is a government body tasked with establishing the regulatory framework for virtual assets and digital financial innovation within Pakistan.