Former finance minister Asad Umar raised concerns over Pakistan’s $2 billion asset tokenisation deal with Binance Investments. He questioned the transparency of the selection process. Umar highlighted the absence of major global players in the initiative.
The deal marks Pakistan’s first formal step into blockchain-based distribution of sovereign and real-world assets. It involves government bonds, treasury bills, commodity reserves, and other federally owned assets. The initiative aims to enhance liquidity, transparency, and access to international markets.
Read more: Govt, Binance to explore ‘tokenisation’ of $2bn in assets
Umar asked whether top global asset tokenisation firms, including BlackRock, UBS, Goldman Sachs, JP Morgan, and HSBC, were invited to participate. He stressed that the first transaction will establish credibility and long-term success for Pakistan’s entry into digital tokenisation.
Real world asset tokenization agreement worth $2bn signed between GOP and Binance. What process was used to select Binance? It is neither a major player in asset tokenization globally nor carries a high level of credibility for this task. Were the leading global players in asset…
— Asad Umar (@Asad_Umar) December 13, 2025
The Ministry of Finance signed a Memorandum of Understanding with Binance Investments on Friday. Federal Minister Muhammad Aurangzeb and Binance CEO Richard Teng signed the MoU in the presence of Binance Adviser Changpeng Zhao. The framework explores potential collaboration on blockchain-based asset distribution.
Read more: Crypto in focus as Binance meets Pakistan’s PM and COAS
Umar emphasized that the selection of Binance must be transparent to protect Pakistan’s credibility in the digital asset space. He warned that improper decision-making could undermine long-term investor confidence in the initiative.