First government-backed Bitcoin reserve and wallet established
Pakistan
Saqib has been on a tour to the United States seeking investment in Pakistan’s crypto markets
LAS VEGAS (Dunya News) – Pakistan has announced the establishment of its first government-backed Bitcoin reserve and national Bitcoin wallet.
The announcement was made by Bilal Bin Saqib Special Assistant to the Prime Minister on Crypto and Blockchain at the Bitcoin Vegas 2025 conference held here which was attended by US Vice President JD Vance, and sons of President Donald Trump, Eric and Donald Trump Jr.
Saqib, who was recently appointed as special assistant to the prime minister recently, has been on a tour to the United States seeking investment in Pakistan’s crypto markets.
According to sources, Bilal said that this wallet has been created to secure digital assets held in state custody. The government has announced the allocation of 2,000 megawatts of additional electricity for Bitcoin mining and AI data centers.
He stated that there are over 40 million crypto wallets in Pakistan, and that the country is one of the world’s largest freelancing economies.
Bilal invited global crypto companies to invest in Pakistan, saying that Pakistan wants to progress and international companies should invest in the country.
Sources stated that this initiative is opening doors for independent miners, tech companies, and international blockchain firms. The establishment of a Digital Assets Authority of Pakistan has also been announced to regulate blockchain-based financial infrastructure.
Meanwhile, according to a statement issued by his office, Bilal said: “Pakistan is no longer defined by its past. It is being reborn as a forward-looking hub of digital innovation — powered by its youth, sharpened by necessity, and led by a new generation of tech statesmen.”
“I’m not just here as a minister,” he said. “I’m here as the voice of a generation — a generation that is online, on-chain, and unstoppable.”
Pakistan, having over 40 million crypto wallets, is one of the “largest and most active freelancer economies in the world,” the statement continued.
“Both Pakistan and bitcoin have suffered from bad PR,” Bilal added.
“But if you look past the headlines, you’ll see something else: talent, resilience, and vision.”
He invited global crypto builders to come and invest in Pakistan: “If you’re building something real — come build it in Pakistan. Come build wallets for the unbanked. Come tokenize land. Come scale your mission with our youth and our unstoppable grit.”
He delivered a “blueprint for the future of emerging markets in Web3 that positions Pakistan as a tech-forward, youth-powered, and opportunity-rich nation ready to lead,” the statement concluded.
Earlier, Bilal thanked Trump for his role as a peacemaker in the recent India-Pakistan conflict and for his commitment to crypto adoption.
NATIONAL CRYPTO COUNCIL
On February 25, the government had announced it was considering establishing a National Crypto Council to adopt emerging digital currencies in line with global trends. In March, it appointed Bilal as the chief adviser to the finance minister on the PCC and later made him its CEO.
According to a press release, he will be responsible for developing a comprehensive, FATF-compliant regulatory framework for digital assets, launching bitcoin mining initiatives, and overseeing blockchain integration in governance, finance, and land records.
Additionally, he will also facilitate “licensing and oversight of virtual asset service providers (VASPs)” and champion “investor protection and Web3 ecosystem growth” in the country.
Furthermore, the government has announced the allocation of 2,000 megawatts (MW) of electricity in the first phase of a national initiative to power bitcoin mining and artificial intelligence (AI) data centres.
