In a major development for the cryptocurrency landscape in Pakistan, the Pakistan Crypto Council has appointed Changpeng Zhao (CZ), the former CEO of Binance, as its strategic advisor. This move is being hailed as a significant milestone that could potentially shape the future of digital finance and blockchain development in the country.
Over the past few months, Pakistan has shown growing interest in legitimizing and developing its crypto infrastructure. With international crypto companies now eyeing the country as a potential hub for expansion, this appointment signals a shift toward more structured growth.
Why CZ’s Appointment is a Big Deal
CZ is a well-known figure in the global crypto industry. His leadership helped Binance become one of the largest and most influential crypto exchanges in the world. Having someone of his caliber advise Pakistan’s crypto council means access to a wealth of strategic knowledge, global insights, and development expertise.
With Bilal Bin Saqib already serving as the CEO of the council—someone known for his deep understanding of crypto—and now CZ onboard, the Pakistani crypto ecosystem stands to benefit immensely. The collaboration could put Pakistan on the global crypto map and fast-track its entry into the mainstream digital economy.
The Bigger Picture: Economic and Technological Growth
This partnership is expected to boost not only the crypto sector but also the broader tech industry. As Pakistan moves toward legalization and regulation of cryptocurrencies, it opens the door for legitimate companies to enter the market. This, in turn, will reduce the prevalence of scams and fraudulent ventures that have plagued the space in the past—such as the recent case of the Treasure NFT platform.
Legalization will also allow experts to publicly educate the population about legal versus illegal crypto practices, potentially saving thousands of investors from falling victim to fraudulent schemes.
Growing Interest from Global Crypto Players
There’s already evidence that international companies are keen to invest in Pakistan’s crypto talent. For instance, Solana has reportedly begun hiring within the country and has established a local team. This shows a growing trend among global firms looking to set up in Pakistan, not just for market reach but also for cost-effective hiring—given that salaries and operational costs are significantly lower than in other parts of the world.
As crypto becomes legal and more widely accepted, such trends are expected to accelerate. Office openings, team building, and investments could lead to a substantial boost in Pakistan’s GDP and employment rate.
Binance’s Growing Presence in Pakistan
In another related development, Binance recently sponsored Islamabad’s sports team—another indicator of its growing interest in the Pakistani market. Sponsoring local entities is often seen as a precursor to deeper engagement, and this move reinforces the belief that Pakistan is moving in the right direction when it comes to blockchain and crypto integration.
Concerns Around Data Sharing and Privacy
One of the questions being raised is whether CZ’s advisory role could lead Binance to share user data with the Pakistani government. This is a contentious topic. Given that CZ no longer holds an executive role at Binance and that every company operates under strict internal policies, such data sharing seems unlikely.
Moreover, any such move could potentially erode user trust in Binance, leading users to shift to alternative platforms. In today’s competitive crypto environment, no exchange would risk such a loss in credibility.
The Road Ahead: Legalization and Opportunity
With the potential legalization of crypto, Pakistan could see a boom in employment and investment. Currently, around 30% of the mobile-using population under the age of 35 is engaged in crypto activities. Yet, institutional interest remains limited.
However, once regulations are in place, companies will be more willing to establish operations within the country. If countries like Seychelles, Dubai, and Malaysia have already established thriving crypto environments, there’s no reason Pakistan can’t follow suit.
Final Thoughts
The appointment of CZ as a strategic advisor is more than just a symbolic gesture—it’s a bold step toward transforming Pakistan’s crypto landscape. If the government continues on this path and ensures a robust legal framework, the nation could very well become a key player in the global blockchain economy.
Whether you see this as a turning point or remain skeptical, one thing is clear: the conversation around crypto in Pakistan is changing. And fast.
