Pakistan eyes Eurobond tokenization, awaits cabinet approval

Pakistan is assessing whether to tokenize outstanding Eurobond debt, but the proposal must first clear cabinet approval before officials invite proposals from vendors. Finance Minister Muhammad Aurangzeb outlined the plan at a Pakistan Banks Association event on digital assets, according to Mettis Global.

The government is also considering tokenization for Roshan Digital Accounts and remittances. Aurangzeb said remittances totalled $41.6 billion last fiscal year and could exceed $44 billion in the current year, based on first-quarter performance.

He said the Virtual Assets Act 2026 provides a supervised framework, with P-VARA licensing and overseeing virtual-asset service providers. Banks can serve licensed businesses subject to due diligence and client-fund separation, while restrictions on banks using their own or depositors’ money to hold, trade or invest in virtual assets remain.