Pakistan’s Minister of State and Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA), Bilal Bin Saqib, used the 81st United Nations General Assembly (UNGA) to highlight Pakistan’s evolving approach to virtual assets, tokenization and digital finance. According to TechJuice, Pakistan hosted a policy dialogue focused on tokenization during the UNGA 2026 programme, placing emerging financial technologies within discussions around the future of global finance and the participation of developing economies. Saqib’s appearance comes as Pakistan has been developing a formal regulatory framework for digital assets. Earlier in August, he said Pakistan had established a virtual-asset regulatory framework in less than six months, covering areas including exchanges, custody, brokerage and asset management, alongside requirements related to anti-money laundering, counter-terror financing, consumer protection and cybersecurity. The UNGA discussion therefore comes at a time when Pakistan is moving from a largely informal digital-asset environment toward a regulated structure involving dedicated institutional oversight. PVARA is central to that framework, with its mandate covering the regulation and licensing of virtual-asset businesses. Saqib’s participation at the UN platform connected these domestic developments with a wider international discussion about how blockchain-based technologies, tokenization and digital assets could be incorporated into future financial infrastructure.
A major theme of the discussion was the role of tokenization and digital assets in expanding financial access. Tokenization involves representing assets or financial interests through digital tokens, potentially allowing financial products and assets to be divided into smaller units and transferred through blockchain-based systems. Saqib has previously identified tokenized markets, programmable payments and stablecoins as areas Pakistan intends to explore as its digital-asset framework develops. At the UNGA forum, the discussion was connected to the wider financial-access challenge facing developing economies. Pakistan’s government said the UNGA address focused on artificial intelligence and tokenization as potential tools for financial inclusion, particularly for populations that remain outside traditional financial systems. The government cited estimates that around 1.3 billion adults worldwide remain without an account at a financial institution, while close to 900 million of them have access to mobile phones. This creates a policy discussion around whether mobile connectivity and digital financial infrastructure can help bring underserved populations into formal financial services. Saqib’s comments placed tokenization and AI within that broader context rather than limiting the conversation to cryptocurrency trading. The approach also reflects Pakistan’s growing focus on blockchain technology for potential applications across payments, capital markets and other areas of financial infrastructure.
The discussion at UNGA also addressed the position of emerging economies in the development of future financial standards. Saqib argued that the Global South should have a role in shaping the rules governing new digital financial systems, particularly as technologies such as stablecoins, tokenized assets and blockchain-based settlement develop. Pakistan has increasingly participated in international discussions around these technologies during 2026. In June, Saqib told the Point Zero Forum in Zurich that Pakistan intended to contribute to discussions around the changing structure of money and finance, while a September meeting with US Chargé d’Affaires Natalie Baker covered Pakistan’s evolving digital-asset regulatory framework and opportunities surrounding innovation and digital financial infrastructure. The country has also engaged with international policymakers on blockchain and tokenization. Following a visit to Hong Kong, Saqib briefed Finance Minister Muhammad Aurangzeb on international practices involving digital assets, stablecoins, compliance frameworks, blockchain and tokenization. The Finance Minister emphasized the importance of a responsible and transparent digital-asset ecosystem with appropriate safeguards. These engagements indicate that Pakistan’s digital-asset policy is being discussed alongside international regulatory and financial developments rather than being treated solely as a domestic technology issue.
The UNGA appearance comes as Pakistan continues building the institutional framework for its virtual-asset sector. The Virtual Assets Act and PVARA’s regulatory role provide the foundation for licensing and oversight of digital-asset businesses, while policymakers are also examining emerging applications such as stablecoins, tokenized financial products and programmable payments. At the same time, the development of the sector involves questions around consumer protection, financial crime prevention, cybersecurity and regulatory compliance. The establishment of a Cryptocurrency Investigation Unit by the Federal Investigation Agency in July 2026, for example, shows that digital assets are also being addressed from a financial-crime and enforcement perspective. Saqib’s UNGA participation consequently forms part of a broader policy effort involving regulation, international engagement and exploration of potential financial applications of blockchain technology. For Pakistan, the ongoing debate is increasingly centered on how virtual assets and tokenization can be incorporated into a regulated financial environment while maintaining safeguards for users and the wider financial system. The discussions at UNGA 2026 add an international dimension to that process, placing Pakistan’s developing digital-asset framework within the broader conversation around the future of global finance.
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