Latest news with #BilalBinSaqib
Express Tribune
2 days ago
- Business
- Express Tribune
Pakistan, El Salvador agree on Bitcoin cooperation
Listen to article In a historic first, Minister of State for Crypto and Blockchain and CEO of the Pakistan Crypto Council, Bilal Bin Saqib, met with El Salvador's President Nayib Bukele in San Salvador, marking the first official interaction between a Pakistani government representative and the Salvadoran Head of State. According to a press release issued by the finance ministry, the meeting focused entirely on Bitcoin and digital asset collaboration. Analysts described the event as the beginning of a new chapter in "Biplomacy" — a term combining Bitcoin and diplomacy — reflecting the rising influence of decentralised technologies in global relations. Saqib and President Bukele discussed El Salvador's groundbreaking experience as the first nation to adopt Bitcoin as legal tender. They explored how Pakistan might benefit from El Salvador's insights to shape its own digital asset frameworks. Key discussion points included Bitcoin education, sovereign digital reserves, and regulatory innovation. A major outcome of the meeting was the signing of a Letter of Intent (LOI) between the Bitcoin Office of El Salvador and the Pakistan Crypto Council. Saqib, in his role as CEO of the council, signed the LOI, establishing a formal platform for cooperation on Bitcoin-focused initiatives. The agreement paves the way for collaboration on public sector adoption, blockchain-driven financial inclusion, and policy development tailored to emerging economies. "El Salvador's bold Bitcoin experiment has inspired governments around the world. This visit marks the beginning of a strategic relationship rooted in innovation, inclusion, and shared learning," said Minister Bilal Bin Saqib. President Bukele praised Pakistan's proactive approach to digital assets and reaffirmed El Salvador's commitment to supporting developing nations exploring Bitcoin as a tool for financial sovereignty. The high-level interaction coincides with Pakistan's broader efforts to structure its digital asset ecosystem. Recent initiatives include the establishment of the Pakistan Virtual Assets Regulatory Authority (PVARA) and the announcement of the country's Strategic Bitcoin Reserve earlier this year. As global momentum around Bitcoin accelerates, the meeting between Bilal Bin Saqib and President Bukele is being hailed as a significant step in tech-driven diplomacy. The engagement signals Pakistan's emerging role as a key stakeholder in the future of global crypto innovation.
Express Tribune
2 days ago
- Business
- Express Tribune
Pakistan, El Salvador sign ‘letter of intent' on Bitcoin cooperation
Minister of State for Crypto and Blockchain Bilal Bin Saqib and Director of El Salvador's National Bitcoin Office Stacy Herbert sign the Letter of Intent (LoI) on Wednesday. Photo: Courtesy X Listen to article Pakistan and El Salvador have agreed to establish formal cooperation on Bitcoin and blockchain initiatives, following a high-level meeting between Minister of State for Crypto and Blockchain Bilal Bin Saqib and Salvadoran President Nayib Bukele in San Salvador. The engagement, described as the first official meeting between the Miinster of State and the Salvadoran head of state, culminated in the signing of a Letter of Intent (LoI) between the Bitcoin Office of El Salvador and the Pakistan Crypto Council. The agreement aims to facilitate technical cooperation and knowledge exchange in key areas such as public sector applications of Bitcoin, blockchain-based financial inclusion, sovereign digital asset reserves, and regulatory innovation in emerging economies. 🇸🇻🤝🇵🇰 The Bitcoin Office signed a Letter of Intent with the Pakistan Crypto Council yesterday: "The purpose of the LOI is to outline the mutual intention of the Parties to explore and establish a strategic collaboration in the fields of Bitcoin education, Bitcoin mining,… — The Bitcoin Office (@bitcoinofficesv) July 17, 2025 According to a press release issued by the Ministry of Finance, the meeting centred exclusively on digital asset collaboration and was seen as a landmark in what officials termed 'Biplomacy' — a blend of Bitcoin and diplomacy reflecting the growing role of decentralized technologies in international engagement. 'El Salvador's bold Bitcoin experiment has inspired governments around the world,' said Bilal Bin Saqib, who also heads the Pakistan Crypto Council. 'This visit marks the beginning of a strategic relationship rooted in innovation, inclusion, and shared learning.' President Bukele welcomed Pakistan's outreach, commending its forward-looking approach to digital assets and reaffirming El Salvador's support for emerging economies exploring Bitcoin as a tool for financial sovereignty. El Salvador, which made headlines in 2021 as the first country to adopt Bitcoin as legal tender, has become a focal point for nations assessing digital currencies to expand financial access and reduce reliance on traditional monetary systems. Just met one of the most extraordinary visionary leaders of our time, President of El Salvador, @nayibbukele A head of state who doesn't just talk tech, but challenges it, from AI and robotics to Bitcoin. He's a leader from the future, who saw the future first because when it… — Bilal bin Saqib MBE (@Bilalbinsaqib) July 16, 2025 Pakistan is similarly working to establish a structured digital asset economy. Earlier this year, the government created the Pakistan Virtual Assets Regulatory Authority (PVARA) via presidential ordinance to regulate the crypto sector, curb illicit finance, and promote responsible innovation. The State Bank of Pakistan also announced plans to complete a pilot project for a central bank digital currency (CBDC) within the current fiscal year. Officials believe the Pakistan–El Salvador agreement will help advance policy dialogue on sovereign digital asset frameworks, encourage public-private collaboration, and position Pakistan as a serious participant in global crypto governance. Financial analysts estimate that ongoing reforms, including the integration of virtual assets into the formal economy, could bring up to $25 billion into the country's tax net.
Business Recorder
3 days ago
- Business
- Business Recorder
Pakistan, El Salvador sign LoI on crypto collaboration
Bilal Bin Saqib, Minister of State for Crypto and Blockchain and CEO of the Pakistan Crypto Council (PCC), met with President Nayib Bukele of El Salvador in San Salvador, marking the first-ever official meeting between a Pakistani government representative and the Salvadoran Head of State. During the meeting, Saqib and Bukele discussed El Salvador's experience as the first country to adopt Bitcoin as legal tender, and explored avenues through which Pakistan could draw on these learnings to inform its own digital asset frameworks, read an official statement released on Wednesday. A pivotal outcome of the meeting was the signing of a Letter of Intent (LoI) between the Bitcoin Office of El Salvador and the PCC. Pakistan's commitment to digital assets, economic innovation: meeting held 'The LoI, signed by Bilal in his capacity as CEO of the PCC, establishes a formal channel for knowledge exchange and cooperation on Bitcoin-focused initiatives. 'It lays the foundation for bilateral collaboration in areas such as public sector adoption, blockchain-based financial inclusion, and policy design for emerging economies,' read the statement. 'El Salvador's bold Bitcoin experiment has inspired governments around the world,' said SAPM Bilal Bin Saqib. 'This visit marks the beginning of a strategic relationship rooted in innovation, inclusion, and shared learning.' Meanwhile, President Bukele welcomed the engagement, praising Pakistan's stance on digital assets and reaffirming El Salvador's commitment to supporting emerging economies exploring Bitcoin as a tool for financial sovereignty. This high-level interaction comes amid Pakistan's broader shift towards structured digital asset regulation, including the launch of the Pakistan Virtual Assets Regulatory Authority (PVARA) and the announcement of the country's Strategic Bitcoin Reserve earlier this year.
Arab News
3 days ago
- Business
- Arab News
Pakistan and El Salvador launch Bitcoin knowledge exchange and cooperation channel
KARACHI: Pakistan and El Salvador have agreed to establish a formal channel for knowledge exchange and cooperation on Bitcoin-focused initiatives, following a meeting between Bilal Bin Saqib, Minister of State for Crypto and Blockchain and CEO of the Pakistan Crypto Council, and Salvadoran President Nayib Bukele in San Salvador. The agreement, formalized through a Letter of Intent signed between the Bitcoin Office of El Salvador and the Pakistan Crypto Council, will lead to technical cooperation and knowledge-sharing between the two countries. The focus includes exploring public sector applications of Bitcoin, promoting blockchain-based financial inclusion and supporting policy innovation in emerging economies. El Salvador, a Central American country, became the first nation to adopt Bitcoin as legal tender in 2021. Its experience is being closely watched by governments exploring the use of digital assets to expand financial access and reduce reliance on traditional monetary systems. Pakistan, for its part, is working to develop its own virtual asset economy through a structured regulatory approach. 'El Salvador's bold Bitcoin experiment has inspired governments around the world,' Saqib said after the meeting, according to an official statement. 'This visit marks the beginning of a strategic relationship rooted in innovation, inclusion and shared learning.' The statement added the meeting was the first official engagement between a Pakistani government representative and the Salvadoran head of state. It focused exclusively on digital asset collaboration, a move described as an example of 'Biplomacy,' a term combining Bitcoin and diplomacy. Pakistan expects the agreement to help both countries explore avenues for sovereign digital asset management and foster public-private dialogue on regulatory frameworks. The State Bank of Pakistan said earlier this month it plans to complete a pilot project for a digital currency within the current fiscal year. The announcement followed the establishment of the Pakistan Virtual Assets Regulatory Authority (PVARA) through a presidential ordinance to regulate the country's crypto market, curb illicit finance and promote responsible innovation. According to financial analysts, the initiative is also expected to bring an estimated $25 billion in virtual assets into the formal tax net.
Bloomberg
3 days ago
- Business
- Bloomberg
Pakistan, El Salvador Establish Bilateral Ties Based on Crypto
By and Sidhartha Shukla Save Pakistan and El Salvador have established bilateral ties for the first time, putting cryptocurrency cooperation at the center of the relationship. Bilal Bin Saqib, chief executive of Pakistan Crypto Council and special assistant to Pakistan's prime minister on crypto and blockchain, met with El Salvador's President Nayib Bukele in the South American country to discuss a knowledge-sharing partnership, according to a statement by Pakistan minister's office.
