The government has appointed Changpeng Zhao (CZ), founder of Binance and an influential figure in Web3, as a strategic advisor to the Pakistan Crypto Council (PCC), according to a statement from the Finance Division on Monday.
The announcement was made in a PCC meeting with CZ, the Finance Division said.
The meeting was chaired by the Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, and brought together key government stakeholders, including the Chairman of the Securities and Exchange Commission of Pakistan, the Governor of the State Bank of Pakistan, and the Federal Secretaries for Law and IT, it added.
During his visit, CZ also held separate meetings with Prime Minister Shehbaz Sharif and Deputy Prime Minister Ishaq Dar.
“This is a landmark moment for Pakistan,” Finance Minister Aurangzeb was quoted as saying in the statement.
“We are sending a clear message to the world: Pakistan is open for innovation. With CZ onboard, we are accelerating our vision to make Pakistan a regional powerhouse for Web3, digital finance, and blockchain-driven growth.”
“Pakistan is opening its doors to the future of finance,” said Bilal Bin Saqib, CEO of the PCC. “And who better to guide us on this journey than CZ – a pioneer who built the world’s largest crypto exchange and changed the way billions think about financial freedom.”
As an official strategic advisor to the council, as per the Finance Division, CZ will provide guidance on regulation, infrastructure, education, and adoption.
“He [CZ] will work closely with the Government of Pakistan and the private sector to create a compliant, inclusive, and globally competitive crypto ecosystem.”
Speaking on the occasion, the Binance founder said potential in Pakistan was “limitless” with over 60% population being under the age of 30.
The Pakistan Crypto Council, established under the Finance Division, is spearheading this digital transformation.