Pakistan Army Chief Asim Munir with PCC CEO Bilal Bin Saqib (Photo credit: X/@cryptocouncilpk) Cash-strapped neighbour Pakistan is now betting big on crypto as it announced the establishment of its first government-backed Strategic Bitcoin reserve on Wednesday. Pakistan Crypto Council CEO Bilal Bin Saqib made the announcement at the Bitcoin Vegas 2025 conference in Las Vegas, which was attended by US Vice President JD Vance and the sons of President Donald Trump, Eric and Donald Trump Jr. “Pakistan is no longer defined by its past. It is being reborn as a forward-looking hub of digital innovation — powered by its youth, sharpened by necessity, and led by a new generation of tech statesmen,” Saqib was quoted as saying in a statement issued by his office.
Saqib was recently appointed Special Assistant to the Prime Minister for Crypto and Blockchain. However, Pakistan's newfound liking for crypto has more than what meets the eye. The country that has been relying on foreign aid is betting big in the new segment as it also has a link to Trump's family.
Pakistan Bets on Crypto, Trump-Linked Firm Joins the Game In a bold but controversial pivot, Pakistan has partnered with World Liberty Financial (WLF), a US-based firm reportedly tied to the family of Trump, to develop blockchain tools, tokenise national assets, and receive strategic guidance on its emerging crypto ecosystem. The announcement, made in late April, has drawn global attention, but also criticism, especially given the deal’s vague terms and timing. Crypto adoption is already booming in Pakistan, with nearly 20 million users, dwarfing the country’s 420,000 registered capital market investors, placing it among the top 10 global crypto-trading nations.
The government now seeks to regulate, tax, and legitimise this massive shadow economy by forming the Pakistan Digital Asset Authority (PDAA). The crypto deal also raised eyebrows as WLF sent a delegation comprising Zachary Folkman, Chase Herro, and Zachary Witkoff, the son of Trump's special envoy Steve Witkoff. What was even more intriguing was that the PCC was constituted in a hurried manner and the institution was barely a month old when these agreements were signed.
Notably, WLF’s stakeholders include Eric Trump and Donald Trump Jr., along with their brother-in-law, Jared Kushner. Adding to the controversy, Texas-based logistics firm Fr8Tech, also linked to World Liberty Finance, pledged $20 million to purchase Trump’s own cryptocurrency, $TRUMP, while offering to help Pakistan develop blockchain tools and advisory frameworks. The optics of a financially struggling nation receiving support from a firm investing in a partisan political token have raised eyebrows worldwide.
Meanwhile, the Trump family’s growing ties to the crypto world, through token launches, regulation proposals, and perks like exclusive donor dinners, are increasingly blurring the lines between politics and digital finance. While this may bring crypto greater visibility in the US, critics warn it risks undermining the industry’s credibility and neutrality. As Pakistan pins its hopes on digital finance to escape economic turmoil, the mix of geopolitical alliances and speculative investments could either mark a turning point or deepen the instability.
