Islamabad: Minister of State and Chairman of the Pakistan Virtual Assets Regulatory Authority, Bilal Bin Saqib, recently held discussions with Mark Elliott, the Division President for East Arabia at Mastercard. The meeting explored the integration of traditional financial systems with digital-asset technologies, aiming to enhance financial-sector resilience and cross-border payment systems.

According to Press Information Department, the conversations emphasized the potential of blockchain-enabled financial infrastructure to improve cross-border payments and remittance efficiency. The discussions also addressed the tokenization of financial assets and the expansion of access to modern financial services. With Pakistan’s digital economy growing rapidly and annual remittances exceeding $40 billion, the talks underscored the potential economic benefits of next-generation financial technologies for overseas Pakistanis, freelancers, small businesses, and financial institutions.

The meeting also included exchanges on global developments in digital payments, cybersecurity, and financial integrity. The importance of regulatory frameworks that enable responsible innovation while ensuring consumer protection and financial stability was highlighted.

Bilal Bin Saqib articulated Pakistan’s vision, stating, “The next generation of global financial infrastructure is being built today. Pakistan has an opportunity not merely to participate in this transformation, but to help shape how emerging economies benefit from it. Our priority is to translate technological innovation into real economic value for citizens, businesses, and the broader economy.” He highlighted the necessity of collaboration among financial institutions, technology providers, and regulators in shaping the future of finance.

The engagement represents PVARA’s ongoing efforts to foster international dialogue and build institutional capacity, aiming to establish a transparent and secure regulatory environment for virtual assets in Pakistan.