Around 70 international crypto exchanges have applied for licences to operate in Pakistan.
Pakistan’s Virtual Assets Regulatory Authority (PVARA) confirmed that roughly 70 major global exchanges are seeking official permission to launch their platforms within the country. Chairman Bilal Bin Saqib said the authority is currently reviewing the submissions and aims to build a transparent regime that safeguards investors while encouraging innovation.
If the licences are granted, Pakistani users could gain access to deeper liquidity pools, a wider array of trading pairs and more sophisticated custodial services. The move is expected to broaden investment options for retail and institutional participants alike, shifting much of the country’s previously informal crypto activity into a regulated environment.
PVARA, the body mandated to supervise virtual‑asset activities, has been working to formalise Pakistan’s burgeoning digital‑asset market. The influx of applications signals growing confidence among global operators in the country’s evolving regulatory framework, which seeks to align with international anti‑money‑laundering standards while fostering fintech growth.
The licensing process will require exchanges to meet strict compliance criteria, including robust KYC procedures, AML controls and capital adequacy measures. PVARA has indicated that applications will be evaluated on a case‑by‑case basis, with the timeline for approvals expected to be communicated in the coming weeks.
For local traders, startups and the wider financial sector, the potential entry of these exchanges could mean enhanced market depth, new job opportunities and greater integration of crypto services with traditional banking. At the same time, regulators stress the need for investor education to mitigate risks inherent to volatile digital assets.