Pakistan's Crypto Diplomacy: A New Era of Economic Engagement

In a groundbreaking move, Pakistan's leaders engaged with Zachary Witkoff, CEO of World Liberty Financial, to explore the use of stablecoins for international payments. This meeting, attended by top officials, signifies a shift in Pakistan's approach to cryptocurrency, positioning the nation as a potential diplomatic intermediary. Bilal Bin Saqib, a key figure in this initiative, believes that embracing digital assets can enhance Pakistan's economic strength and reduce dependence on foreign loans. As the country navigates its relationship with the US and Iran, this 'crypto diplomacy' could redefine its global standing. Will this innovative strategy yield lasting benefits for Pakistan? Read on to find out more.

By Narendra Chaudhary Mar 30, 2026, 17:17 IST

High-Level Crypto Engagement in Pakistan

In January 2026, a significant meeting took place in Pakistan, where the nation’s leading civilian and military figures welcomed Zachary Witkoff, the CEO of World Liberty Financial, a cryptocurrency platform. This gathering resembled a state visit more than a typical business discussion, with Prime Minister Shehbaz Sharif and Army Chief General Asim Munir both present. The primary outcome was a non-binding letter of intent aimed at investigating the potential of stablecoins for international payments. However, the noteworthy aspect was the privileged access granted to Witkoff, who has connections to the family of former US President Donald Trump.

Bilal Bin Saqib, a Pakistani entrepreneur who identifies as a 'crypto bro', has been a driving force behind this initiative, striving to elevate Pakistan's status in the global cryptocurrency arena. He played a pivotal role in facilitating Witkoff’s visit, which he described as a significant step in 'putting Pakistan on the map.' According to reports, the involvement of Pakistan’s top leadership and the official photographs from the meeting lent a diplomatic tone to the event. Saqib seems to be leveraging cryptocurrency as a diplomatic tool, fostering personal ties within Trump’s network.

Simultaneously, Pakistan is positioning itself as a potential intermediary between the United States and Iran amid ongoing tensions. Reports indicate that Islamabad has proposed a 15-point framework and is being considered as a possible location for diplomatic discussions. This outreach aligns with Pakistan's efforts to strengthen its relationship with Washington.

On the economic front, Pakistan has transitioned from a cautious stance on cryptocurrency to a more proactive approach. The government has enacted new regulations, established a dedicated regulatory body, proposed a national cryptocurrency reserve, and allocated 2,000 megawatts of electricity specifically for crypto mining. While some analysts caution about the risks involved, particularly with the International Monetary Fund closely monitoring the situation, Saqib argues that digital assets could bolster Pakistan's economic resilience, enhance financial inclusion, and decrease reliance on foreign loans.

Whether this innovative approach to 'crypto diplomacy' will yield sustainable outcomes remains uncertain, but it has undoubtedly provided Pakistan with a novel and unconventional method to engage with influential figures in Washington.