- During a meeting between Bilal bin Saqib and Nayib Bukele, Pakistan and El Salvador signed an agreement to cooperate on Bitcoin adoption at the national level.
- Saqib views El Salvador as a model for digital transformation in a resource-constrained environment.
- Other areas of collaboration include blockchain-based financial inclusion and the development of crypto policies for emerging economies.
The agreement was signed in San Salvador during a meeting between Bilal bin Saqib, Chairman of the Pakistan Cryptocurrency Council (PCC) and Special Advisor to the Prime Minister on Cryptocurrencies and Blockchain, and Nayib Bukele, the President of El Salvador.
In addition to advancing Bitcoin adoption, both countries agreed to collaborate on blockchain-based financial inclusion and the development of crypto policies for emerging economies. The Letter of Intent they signed outlines joint efforts to promote the public adoption of Bitcoin, expand financial inclusion, and foster supportive regulatory frameworks.
The official discussions centered on leveraging El Salvador’s experience as a model for countries with limited resources but ambitious plans for digital transformation. Saqib emphasized the importance of seizing the moment, stating that emerging economies need not wait—they can embrace blockchain and cryptotechnology now, guided by Bukele’s example.
Crypto-Reserves: Digital Assets as Strategic State Reserves
El Salvador, despite ongoing criticism from the International Monetary Fund (IMF), continues to actively accumulate Bitcoin.
According to data from BitcoinTreasuries.NET, the country holds more than 6,240 BTC—worth approximately $740 million at the time of writing.
Meanwhile, Pakistan is increasing its participation in the digital economy, bolstered by a $7 billion IMF loan program extending through 2027. Earlier in the summer, the PCC—working with the Ministry of Finance—initiated the allocation of 2,000 megawatts of surplus electricity for Bitcoin mining and artificial intelligence centers. However, the IMF raised concerns, particularly regarding preferential electricity rates for energy-intensive industries like Bitcoin mining.
Saqib also discussed plans for establishing a strategic Bitcoin reserve during The Bitcoin Conference in May 2025, reflecting Pakistan’s drive to secure a role in the future digital financial ecosystem.
This partnership represents a pragmatic approach for emerging economies to harness the transformative potential of cryptocurrency and blockchain technology, aiming for greater financial inclusion, innovation, and resilience amid a rapidly evolving global economy.
