Pakistan is reviewing a proposal to tokenise its existing Eurobond debt as part of efforts to explore digital financial technologies, Finance Minister Muhammad Aurangzeb said on November 2.
The minister disclosed the initiative while addressing a dialogue on Digital Assets and the Future of Banking, organised by the Pakistan Banks’ Association.
He said the government was holding discussions on the proposal and awaiting cabinet approval before issuing a request for bids.
What the proposal involves
Tokenisation involves representing a financial asset or related rights in digital form, potentially using blockchain-based infrastructure.
In the case of government bonds, the technology could support new methods of recording ownership and processing transactions.
However, the government has not announced the proposed structure, implementation timetable or financial terms of the Eurobond initiative.
The proposal remains under review, and no decision to proceed has been announced.
Digital finance and economic growth
Aurangzeb said financial innovation should help lower business costs, improve financial services and bring more economic activity into the formal sector.
He linked the adoption of new financial technologies to Pakistan’s wider economic priorities, including stronger exports, private investment and continued fiscal discipline.
The minister said the country was moving from macroeconomic stabilisation towards sustainable growth, requiring financial institutions to support businesses more effectively.
Regulatory safeguards remain important
Aurangzeb also referred to the Virtual Assets Act 2026, saying the legislation had established a statutory framework for virtual assets.
He stressed that implementation would require effective supervision, institutional coordination and safeguards against financial risks.
The minister said emerging technologies should be assessed according to their practical economic benefits rather than adopted solely because they are new.
Further details of the proposed Eurobond tokenisation initiative are expected to depend on cabinet consideration and any subsequent bidding process.