Bilal Bin Saqib, Mastercard discuss digital-asset technologies

November 05, 2026 (MLN): Pakistan Virtual Assets Regulatory Authority (PVARA) and Mastercard have discussed opportunities from the convergence of traditional financial systems and emerging digital-asset technologies, with a focus on blockchain-enabled infrastructure to improve cross-border payments, strengthen remittance efficiency, enable the responsible tokenisation of financial assets and widen access to modern financial services.

Pakistan receives over $40bn in annual remittances and has a fast-growing digital economy, and the discussions highlighted the potential for next-generation financial technologies to deliver tangible benefits, particularly for overseas Pakistanis, freelancers, small businesses and financial institutions.

The discussion took place during a meeting between Minister of State and PVARA Chairman Bilal Bin Saqib and Mastercard Division President for East Arabia Mark Elliott, said a press release issued.

The two sides also exchanged views on global developments in digital payments, cybersecurity and financial integrity, and on the importance of regulatory frameworks that enable responsible innovation while protecting consumers and safeguarding financial stability.

Bilal Bin Saqib said the next generation of global financial infrastructure is being built now, and that Pakistan has an opportunity not only to take part in the transformation but also to help shape how emerging economies benefit from it.

He said the priority is to turn technological innovation into real economic value for citizens, businesses and the wider economy.

He added that the future of finance will increasingly depend on cooperation between established financial institutions, technology providers and regulators.

The engagement reflects PVARA’s continued focus on international dialogue, institutional capacity-building and developing a transparent, secure and innovation-enabling regulatory environment for virtual assets in Pakistan, in coordination with relevant national authorities.

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