Pakistan, Hong Kong explore cooperation on digital bonds, tokenised capital

Business Recorder reported that Pakistan and Hong Kong are looking at working together on digital bonds and tokenised capital markets. The move is part of Islamabad's effort to update its financial framework and open more doors for overseas funding.

Bilal bin Saqib, the Minister of State who chairs the Pakistan Virtual Assets Regulatory Authority (PVARA), met Christopher Hui, Secretary for Financial Services and the Treasury in the Hong Kong Special Administrative Region Government. Their talks focused on issuing digital bonds, using tokenisation and introducing new regulatory approaches, and PVARA said it also explored how tokenisation could make capital raising and market operations more efficient.

Saqib later wrote on social media that tokenisation is a route to capital formation for emerging economies, and said easier access for global investors could widen the capital pool available to Pakistan. Days earlier, he had said regulated stablecoins are being explored for remittances, a step that could potentially save the country around $400 million annually.