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Changpeng Zhao (CZ), the former CEO and influential figure behind the world's largest cryptocurrency exchange, Binance, has taken on a new role as a strategic advisor to Pakistan's newly established Crypto Council (PCC), the country's Finance Ministry announced.
As strategic advisor, CZ will lend his extensive experience to shape Pakistan's regulatory framework, infrastructure development, educational initiatives, and overall adoption strategy for cryptocurrencies and blockchain technology, a mandate directly stemming from the PCC's initial objectives, according to a statement,
This appointment follows the PCC's inaugural meeting, chaired by Finance Minister Senator Muhammad Aurangzeb, where discussions centered on shaping the future of crypto and blockchain within the nation.
The high-profile announcement of CZ's advisory role came after his meeting with key Pakistani government officials in Islamabad on Monday. This meeting, also chaired by Finance Minister Aurangzeb, who holds the same position within the PCC, brought together top financial regulators including the governor of the State Bank of Pakistan (SBP) and the chairman of the Securities and Exchange Commission of Pakistan (SECP), underscoring the government's unified approach to its foray into the crypto world, the statement said.
CZ also held separate discussions with Prime Minister Shehbaz Sharif and Deputy Prime Minister Senator Ishaq Dar, further highlighting the government's commitment to this initiative, a commitment that was evident in the recent inaugural PCC meeting.
During that initial PCC gathering, while also engaging with international partners like Natalie Baker, Charge d’Affaires and Acting US Ambassador to Pakistan, the focus was on laying the groundwork for Pakistan's digital asset strategy. Minister Aurangzeb, who chairs the PCC, emphasized the government's macroeconomic reform agenda and its vision for export-led economic growth, suggesting that the development of the crypto and blockchain sector is now considered integral to this broader economic strategy.
Hailing CZ's appointment as a "landmark moment" for Pakistan, Minister Aurangzeb stated it sends a clear message that the country is "open for innovation." He emphasized the ambition to position Pakistan as a "regional powerhouse for Web3, digital finance, and blockchain-driven growth," with CZ's expertise expected to accelerate this vision, building upon the foundational discussions held during the PCC's first meeting.
Echoing this sentiment, PCC CEO Bilal Bin Saqib emphasized CZ's pioneering role in the crypto industry, stating that there is "no better" individual to guide Pakistan on its journey into the future of finance.
CZ himself expressed optimism about Pakistan's potential, citing its large and youthful population, with over 60% of its 240 million citizens under the age of 30. This demographic, coupled with Pakistan's existing strong crypto adoption rates – ranking among the top 10 globally with an estimated 20 million users and significant transaction volumes – presents a fertile ground for Web3 innovation.
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