Pakistan to allow Binance to explore 'tokenisation' of up to $2 billion of assets


Smartphone with displayed Binance logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado Ruvic/Illustration

KARACHI, Dec 12 (Reuters) - Pakistan has signed a memorandum of understanding with crypto exchange Binance to explore the "tokenisation" of up to $2 billion in sovereign bonds, T-bills and commodity reserves to boost liquidity and attract investors, the finance ministry said on Friday.

Separately, Pakistan also gave initial clearance for Binance and HTX, a digital-asset platform, to register with regulators to set up local subsidiaries and begin preparations for full exchange licence applications, the virtual assets authority said.

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