Pakistan and El Salvador have taken a significant step in developing crypto diplomacy by signing a cooperation agreement in blockchain and cryptocurrencies.
A New Era of Crypto Diplomacy
The meeting in San Salvador marked the signing of a Letter of Intent between Pakistan’s Special Assistant to the Prime Minister on Blockchain and Crypto, Bilal Bin Saqib, and representatives from El Salvador’s Bitcoin Office. This agreement lays the groundwork for long-term collaboration.
> "This is more than a partnership, it’s the future of international blockchain diplomacy," said Saqib during the event.
Strategic Policy Shifts in Islamabad
Pakistan's entry into crypto diplomacy is backed by substantial reforms in crypto infrastructure. Recently, the government passed an ordinance to establish the Pakistan Virtual Assets Regulatory Authority (PVARA) to oversee and license crypto service providers. Plans were also announced for a Bitcoin Strategic Reserve and the allocation of 2,000 MW of surplus energy for Bitcoin mining and AI innovations.
Global Implications of the Crypto Alliance
El Salvador has demonstrated a successful model for crypto adoption, holding over 6,000 BTC. This collaboration provides Pakistan with a unique opportunity for growth in crypto diplomacy.
> "We’re honored to share our lessons with Pakistan," said President Nayib Bukele. "This is the beginning of a powerful digital brotherhood."
The formal collaboration between Pakistan and El Salvador is a milestone in global digital policy. As the first Muslim-majority nation to enter such an agreement, Pakistan has a chance to reshape its approach to crypto diplomacy and innovation collaboration.
