Pakistan unveils national Bitcoin wallet, govt-backed crypto reserve

ISLAMABAD: Pakistan has stepped into the global crypto spotlight with the launch of its first-ever government-backed Bitcoin reserve, a move officials say marks a new chapter for the country’s digital economy.

The announcement was made by Bilal Bin Saqib, recently appointed Special Assistant to the Prime Minister on Blockchain and Crypto and CEO of the Pakistan Crypto Council, during his keynote address at the Bitcoin 2025 conference in Las Vegas. The high-profile gathering was attended by US Vice President JD Vance, Eric Trump, and Donald Trump Jr.

Saqib described the initiative as more than a policy shift, calling it a “rebranding of a nation” that seeks to align itself with emerging digital economies.

“This is not just a personal mission,” he told the audience. “It reflects the voice of a generation that is connected, decentralised, and determined.”

A central part of the announcement was the launch of a national Bitcoin wallet to hold digital assets already in state custody. According to Saqib, the reserve is not intended for short-term speculation but will serve as a long-term sovereign asset that signals confidence in decentralised finance.

Pakistan is one of the most active crypto markets in the region, with an estimated 40 million digital wallets and a booming freelance workforce that heavily relies on digital payments. Officials believe the country’s youthful population and tech-savvy talent pool offer a unique advantage in this space.

In another major reveal, Saqib said the government has allocated 2,000 megawatts of surplus electricity in the first phase to support Bitcoin mining and AI-focused data centres. The excess power, mostly from underutilised generation plants, is being repositioned to attract tech firms, sovereign miners, and clean energy partners globally.

“This is a strategic move to convert unused capacity into digital value,” he said.

The announcement follows the recent formation of the Pakistan Digital Assets Authority, a new regulatory body set up to oversee the country’s blockchain and digital finance sector. The Ministry of Finance said the authority would help lay the legal groundwork for crypto adoption and attract foreign investment in the sector.

Saqib, speaking with a mix of optimism and urgency, said both Pakistan and the crypto industry had been misrepresented in the media. “If you look past the headlines, what you’ll find is untapped talent, resilience, and potential,” he said.

In a notable diplomatic mention, he thanked former US President Donald Trump for what he described as his role in de-escalating tensions between India and Pakistan and supporting broader crypto acceptance.

“Pakistan is open for builders, whether it’s creating wallets for the unbanked, tokenising assets, or scaling innovation through our youth,” he said. “The grit is here. The time is now.” 

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