The CEO of Binance has been named a strategic advisor to the recently established Crypto Council in Pakistan.

Changpeng “CZ” Zhao, the former CEO of Binance, has been named a strategic advisor to the recently established Crypto Council in Pakistan.

On April 7, 2025, the statement was made as Pakistan seeks to become a center for digital assets and blockchain technology.

In March, the Finance Division created the Pakistan Crypto Council (PCC). It seeks to provide a clear regulatory framework for digital assets in the nation and supervise the implementation of blockchain technology.

Zhao will lead the council on adoption, infrastructure, education, and regulation. Zhao created Binance, the biggest cryptocurrency exchange in the world.

He will collaborate closely with the business sector and the Pakistani government to create a crypto ecosystem that is both compliant and competitive on a global scale.

The Developing Crypto Scene in Pakistan

The use of cryptocurrencies has showed great promise in Pakistan. According to statistics, the nation has 20 million active bitcoin users and has transacted over $20 billion in cryptocurrency, placing it in the top 10 countries in the world for cryptocurrency adoption.

CEO of Binance emphasized Pakistan’s demographic advantage at the announcement. More over 60% of Pakistan’s 240 million citizens are under 30 years old. Here, the possibilities are endless,” he said.

The nation is a desirable place for cryptocurrency development because of its sizable remittance market, expanding IT sector, and vast population. The $35 billion in remittances that Pakistan receives each year is one industry that blockchain technology could help.

According to a 2023 KuCoin poll, 33% of regional cryptocurrency investors utilize digital assets as a hedge against the depreciation of the Pakistani rupee. According to a more recent Bitget poll, 46% of South Asian respondents use digital assets to make transactions faster and easier.

Support from the Government for Crypto Innovation

The PCC’s chair, Finance Minister Senator Muhammad Aurangzeb, described the appointment as “a landmark moment for Pakistan.” “We are making it very evident to the world that Pakistan welcomes innovation,” he said.

High senior officials like the governor of the State Bank of Pakistan, the chairman of the Securities and Exchange Commission of Pakistan, and the federal secretaries for law and information technology are part of the PCC. This high-level composition demonstrates the government’s dedication to the advancement of cryptocurrency.

Zhao met with Senator Ishaq Dar, the deputy prime minister, and Prime Minister Shehbaz Sharif while he was there. The government’s interest in growing the cryptocurrency industry is further evidenced by these meetings.

With CZ onboard, we are accelerating our vision to make Pakistan a regional powerhouse for Web3, digital finance, and blockchain-driven growth,” said Aurangzeb.

The Pakistan Crypto Council’s CEO, Bilal bin Saqib, said in March that the nation intends to create a transparent regulatory framework for digital assets.

“Pakistan is done sitting on the sidelines,” Saqib said. “We want to attract international investment because Pakistan is a low-cost high-growth market with a Web3 native workforce ready to build.”

After barely escaping financial default in 2023, Pakistan is again searching for investments to boost its economy. To draw in foreign investors, the government intends to create a legal framework for cryptocurrency trading.

Despite the central bank’s cautions about the dangers of the sector, cryptocurrency trading is becoming more and more popular in Pakistan. During a widespread crackdown on dollar trades on the illicit market at the end of last year, the value of official remittances to Pakistan surged.

With Zhao on board, Pakistan may be able to draw in international capital to a sector that has gained significant strategic relevance. His experience could help the nation become a Web3-ready, forward-thinking country like Singapore, Dubai, and Switzerland.

In November 2023, Zhao resigned as Binance’s CEO after entering a guilty plea to allegations of breaking US money laundering regulations. Later, he received a four-month prison sentence.

 

 

 

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