Pakistan and Kyrgyzstan are set on enhancing collaboration in the areas of cryptocurrency and blockchain technologies. This follows a meeting between high-level representatives from both countries.
High-level dialogue between countries
The collaboration was agreed upon during a high-level virtual meeting between Bilal Bin Saqib, the Minister of State for Crypto and Blockchain in Pakistan, and Farkhat Aminov, Director of Kyrgyzstan’s National Investment Agency. During the meeting, both sides held detailed discussions on digital finance, regulatory frameworks, and blockchain innovation. They also emphasized the importance of sharing knowledge and expertise to foster the growth of their digital economies.
Pakistan's push in the crypto industry
According to local reports, Bilal Bin Saqib praised Kyrgyzstan’s leadership in digital asset innovation during the meeting, expressing Pakistan’s interest in developing a joint regulatory structure with them. He also noted that Pakistan is interested in advancing technology with Kyrgyzstan as partners, proposing a Memorandum of Understanding (MoU) to formalize the partnership in the crypto space. Pakistan has continued to make strides in the crypto industry, with the recent collaboration with Kyrgyzstan showing the seriousness of the country’s intentions. The formation of the Pakistan Crypto Council has been announced, a body that will oversee the regulation and integration of blockchain technology into the financial landscape.
Pakistan extends its impact into Central Asia
This development came after the Press Information Department of Pakistan announced that various protocols and MoUs had been signed to deepen economic and technical cooperation with Kyrgyzstan, aiming to raise the bilateral trade volume to $100 million. Both countries agreed to work on boosting bilateral trade, diversifying exports and imports, reviving the Pakistan-Kyrgyz Joint Business Council, and organizing business forums. Such measures clearly demonstrate Pakistan’s intention to engage more actively in the Central Asia region.
The cooperation between Pakistan and Kyrgyzstan in the realms of cryptocurrency and blockchain technology highlights their commitment to enhance economic interaction and create a solid foundation for a digital economy in Central and South Asia.
