TLDR
- Former Binance CEO Changpeng “CZ” Zhao appointed as strategic adviser to Pakistan’s Crypto Council
- Pakistan Crypto Council established in March to oversee blockchain technology and digital assets adoption
- Zhao will advise on cryptocurrency regulation, infrastructure, education, and adoption
- Pakistan ranks in the top 10 for crypto adoption with 20 million active crypto users
- The country aims to attract international investment and become a regional powerhouse for Web3
Former Binance CEO Changpeng “CZ” Zhao has been appointed as a strategic adviser to Pakistan’s newly formed Crypto Council.
The announcement came on April 7, 2025, as Pakistan works to establish itself as a hub for blockchain technology and digital assets.
The Pakistan Crypto Council (PCC) was established in March under the Finance Division. It aims to oversee the adoption of blockchain technology and create a clear regulatory framework for digital assets in the country.
Zhao, who founded Binance, the world’s largest cryptocurrency exchange, will guide the council on regulation, infrastructure, education, and adoption.
He will work closely with the Pakistani government and private sector to develop a compliant and globally competitive crypto ecosystem.
Pakistan’s Growing Crypto Landscape
Pakistan has shown strong potential for crypto adoption. The country ranks in the top 10 globally for cryptocurrency adoption, with reports indicating 20 million active crypto users and over $20 billion in crypto transactions.
During the announcement, Zhao highlighted Pakistan’s demographic advantage. “Pakistan is a country of 240 million people, over 60% of whom are under the age of 30. The potential here is limitless,” he remarked.
The country’s large population, growing tech workforce, and substantial remittance market make it an attractive location for crypto development. Pakistan receives approximately $35 billion in annual remittances, a sector that could benefit from blockchain technology.
A 2023 KuCoin survey revealed that 33% of local crypto investors use digital assets to hedge against the Pakistani rupee’s devaluation. A more recent survey by Bitget found that 46% of respondents in South Asia use digital assets for speed and accessibility of transactions.
Government Support for Crypto Innovation
Finance Minister Senator Muhammad Aurangzeb, who chairs the PCC, called the appointment “a landmark moment for Pakistan.” He stated, “We are sending a clear message to the world: Pakistan is open for innovation.”
The PCC includes high-ranking officials such as the State Bank of Pakistan governor, the Securities and Exchange Commission of Pakistan chairman, and federal secretaries for Law and IT. This high-level composition shows the government’s commitment to crypto development.
During his visit, Zhao held meetings with Prime Minister Shehbaz Sharif and Deputy Prime Minister Senator Ishaq Dar. These meetings further demonstrate the government’s interest in developing the crypto sector.
“With CZ onboard, we are accelerating our vision to make Pakistan a regional powerhouse for Web3, digital finance, and blockchain-driven growth,” said Aurangzeb.
Bilal bin Saqib, CEO of the Pakistan Crypto Council, stated in March that the country plans to develop a clear regulatory framework for digital assets.
“Pakistan is done sitting on the sidelines,” Saqib said. “We want to attract international investment because Pakistan is a low-cost high-growth market with a Web3 native workforce ready to build.”
The appointment comes as Pakistan looks for investments to strengthen its economy after narrowly avoiding financial default in 2023. The government plans to develop a legal framework for cryptocurrency trading to attract foreign investors.
Crypto trading is gaining popularity among Pakistan’s population despite warnings from the central bank about risks in the industry. The value of formal remittances to Pakistan increased at the end of last year during a nationwide crackdown on black market dollar trades.
Zhao’s appointment could help Pakistan attract foreign investment in an industry that has taken on new strategic importance. His expertise may help the country join the ranks of Singapore, Dubai, and Switzerland as a progressive, Web3-ready nation.
Zhao resigned as CEO of Binance in November 2023 after pleading guilty to charges related to violating US money laundering laws. He was later sentenced to four months in prison.
