Pakistan names Binance founder Zhao as adviser to new crypto council

Pakistan has appointed a billionaire founder of one of the leading crypto trading companies as a strategic adviser to the newly created Pakistan Crypto Council.

The groundbreaking move of appointing Binance's billionaire founder Changpeng Zhao as the strategic adviser was poised to reshape the global crypto landscape, a press release by the Finance Division said on Monday.

The government officially launched the Pakistan Crypto Council (PCC) last month to regulate and integrate blockchain technology and digital assets into the country's financial landscape and appointed entrepreneur Bilal Bin Saqib as the chief adviser to the finance minister on the council.

Dawn reported that the announcement was made on Monday during Zhao's meeting with the PCC, chaired by Finance Minister Muhammad Aurangzeb, bringing together key government stakeholders.

It said that Zhao held separate meetings with Prime Minister Shehbaz Sharif and Deputy Prime Minister Ishaq Dar.

This is a landmark moment for Pakistan, said Aurangzeb. We are sending a clear message to the world: Pakistan is open for innovation. With Zhao onboard, we are accelerating our vision to make Pakistan a regional powerhouse for Web3, digital finance, and blockchain-driven growth.

Saqib, also the PCC CEO, said Pakistan is opening its doors to the future of finance.

And who better to guide us on this journey than Zhao a pioneer who built the world's largest crypto exchange and changed the way billions think about financial freedom, Saqib said.

The official press release said that as an official strategic adviser to the council, Zhao would provide guidance on regulation, infrastructure, education, and adoption.

It said that he would work closely with the government and the private sector to create a compliant, inclusive, and globally competitive crypto ecosystem.

Pakistan is a country of 240 million people, over 60 per cent of whom are under the age of 30. The potential here is limitless, Zhao was quoted as saying in the press release.