- Changpeng Zhao joins Pakistan’s digital assets Council to guide blockchain policy and adoption.
- Pakistan’s youth population drives digital assets interest, ranking 9th in South Asia for adoption.
- Zhao’s expertise could accelerate Pakistan’s crypto growth, attracting foreign investments.
Pakistan appointed Changpeng Zhao, the former Binance CEO, as an adviser for its newly formed Crypto Council. As reported by Bloomberg, the finance ministry of Pakistan made this announcement on April 7.
Zhao leads a prominent role in cryptocurrency while serving as an adviser to help the regulatory body create digital asset policies, infrastructure and adoption strategies. By appointing Changpeng Zhao, Pakistan demonstrates its strategic aim to become a central participant in the global blockchain and crypto market spaces.
The appointment aligns with Pakistan’s broader push to regulate and integrate digital currencies. Finance Minister Senator Muhammad Aurangzeb chaired the meeting where Zhao signed documents, joined by officials from the Securities and Exchange Commission and the State Bank of Pakistan.
Zhao also met separately with the prime minister and deputy prime minister, underscoring the significance of this collaboration. His expertise could attract foreign investment to a nation eager to leverage its young, tech-savvy population.
Zhao’s Role and Background in Crypto
Changpeng Zhao presents a wealth of expertise through his qualifications. Zhao served as the head of Binance until he resigned from the position in November 2023. Binance established itself as the world’s biggest exchange under his leadership.
Zhao left his position after admitting responsibility for U.S. money laundering offenses and spent four months in prison. His role as a crypto pioneer continues to boost his reputation, giving Pakistan strong strategic benefits from his leadership. Bilal bin Saqib leads the digital assets Council as its CEO to transform Zhao’s knowledge into a definitive regulatory structure.
Pakistan’s government views Zhao’s involvement as a chance to boost the country’s profile in Web3 and digital finance. Saqib emphasized the nation’s readiness to move beyond the sidelines of the crypto revolution. With a population of 240 million—over 60% under 30—Pakistan offers a fertile ground for blockchain growth. Zhao himself noted the country’s vast potential during the announcement, highlighting its youthful demographic as a key asset.
Crypto Adoption Trends in Pakistan
Pakistan has shown growing interest in cryptocurrencies, driven by economic factors and a tech-ready workforce. The country ranked ninth in Central and Southern Asia for digital assets adoption in Chainalysis’ 2024 index, reflecting strong retail use. Stablecoins, in particular, have gained traction as a hedge against the Pakistani rupee’s depreciation.
A 2023 KuCoin survey found that 33% of local crypto investors use digital assets to protect their wealth, while a 2024 Bitget study revealed 46% of South Asians value crypto for fast transactions.
Economic conditions further fuel this trend. A crackdown on black market dollar trades last year pushed remittances through official channels, as noted by Fitch Solutions economist John Ashbourne. This shift highlights Pakistan’s evolving financial landscape, where digital assets could play a pivotal role. Zhao’s appointment may accelerate these developments, positioning Pakistan as a hub for blockchain innovation.
