Pakistan approves establishment of Strategic Digital Wallet Company

In a landmark move towards integrating digital finance into national governance and asset management, Pakistan has taken a major step forward with the incorporation of a new state-owned enterprise (SOE), the Strategic Digital Wallet Company, aimed at managing and safeguarding government-owned virtual assets.

The establishment of the company follows the promulgation of the Virtual Asset Ordinance, 2025, which provides a comprehensive legal framework for the regulation of virtual assets and Virtual Asset Service Providers (VASPs) in Pakistan.
This ordinance marks a significant milestone in Pakistan’s journey toward embracing blockchain-based financial technologies while ensuring compliance, transparency, and national security.

The Strategic Digital Wallet Company is being set up as a non-profit entity under Section 42 of the Companies Act, 2017, and will be registered with the Securities and Exchange Commission of Pakistan (SECP).

The initiative is spearheaded by the Pakistan Crypto Council, which recommended the creation of a secure, government-operated cryptocurrency wallet to manage public-sector digital assets in line with the new regulatory regime.

The federal cabinet has already accorded its formal approval for the establishment of the SOE, demonstrating the government’s commitment to structured and secure adoption of virtual assets.

To meet the incorporation prerequisites set by SECP, which include the appointment of at least three initial directors/subscribers. The government has nominated Taimoor Hasan, Joint Secretary, Finance Division, Humera Azam Khan, Joint Secretary, Cabinet Division, and Amir Muhammad Khan Niazi, Joint Secretary, Law and Justice Division, as the founding members of the company’s Board of Directors.

Additionally, Ahmed Taimoor Hasan has been appointed as the Chief Executive Officer (CEO) of the company on an interim basis, pending the appointment of a regular CEO by the Board under the provisions of the State-Owned Enterprises (Governance and Operations) Act, 2023

The Strategic Digital Wallet is expected to serve as a foundational infrastructure for managing Pakistan’s digital assets, enabling future use cases such as tokenized government bonds, sovereign digital currencies, and cross-border blockchain transactions in a regulated environment.

The move is widely viewed as a progressive step in positioning Pakistan among forward-thinking nations that are embracing the digital economy while mitigating the risks of unregulated crypto activity. By taking proactive steps through legislation, institutional framework, and technological readiness, Pakistan is laying the groundwork for a secure and inclusive digital financial future.