San Salvador: In a significant move toward digital innovation, Pakistan and El Salvador have signed a Letter of Intent (LoI) to collaborate on initiatives related to Bitcoin and digital assets. The agreement was finalized during a high-level meeting in San Salvador between Pakistan’s Minister of State for Crypto and Blockchain, Bilal Bin Saqib, and Salvadoran President Nayib Bukele. Saqib, who also serves as CEO of the Pakistan Crypto Council, led the discussions, which focused on shared strategies for public-sector adoption of digital assets, blockchain-powered financial inclusion, and policymaking for emerging economies.
Read: Pak moves toward digital currency with new virtual asset framework This bilateral engagement has been dubbed “Biplomacy”—a blend of Bitcoin and diplomacy—highlighting the growing role of decentralized technologies in shaping global alliances. El Salvador, which became the world’s first country to adopt Bitcoin as legal tender, has positioned itself as a global leader in crypto innovation. The country’s Bitcoin reserves have surged past USD 760 million in value following a recent rally, tripling in worth since initial investment. Pakistan’s engagement signals an intent to draw from El Salvador’s experience in leveraging Bitcoin to drive financial inclusion, attract investment, and promote economic resilience. Speaking on the occasion, Saqib stated that El Salvador’s “bold experiment” has inspired nations worldwide and emphasized Pakistan’s shared vision for innovation and financial sovereignty. President Bukele welcomed the partnership and expressed support for Pakistan’s exploration of Bitcoin as a tool for national development.
Read: PM calls for nationwide rollout of digital payment system The collaboration follows Pakistan’s broader efforts to regulate and promote digital assets, including the planned establishment of the Pakistan Virtual Assets Regulatory Authority (PVARA) and consideration of a national Bitcoin reserve.
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