Pakistan and El Salvador have taken an important step towards developing a digital economy by signing a cooperation agreement on Bitcoin at the state level. The corresponding Letter of Intent was signed between the head of the Pakistan Cryptocurrency Council (PCC) and the Prime Minister’s Special Advisor on Cryptocurrency and Blockchain, Bilal bin Saqib, and the President of El Salvador, Nayib Bukele, during their meeting in San Salvador.
This is reported by Business • Media
A New Level of Cooperation in Cryptocurrency
The document outlines cooperation on the state implementation of the first cryptocurrency, promoting financial inclusion based on blockchain, and jointly developing strategic policies for developing countries. Bilal bin Saqib emphasized that El Salvador’s experience serves as a unique example for resource-limited states seeking digital transformation. He urged developing economies not to delay the implementation of blockchain and crypto technologies, taking inspiration from El Salvador’s achievements.
“He is a leader of the future who saw the future first. When supporting Bitcoin was not yet fashionable, he did it with conviction,” said Saqib, calling Bukele “one of the most remarkable visionary leaders of our time.”
Challenges and Prospects for Both Countries
Despite criticism from the International Monetary Fund, El Salvador continues to actively accumulate Bitcoins. According to analytical platforms, the country already holds over 6,240 BTC, valued at approximately $740 million.
Pakistan, in turn, is expanding its participation in the digital economy by implementing innovative solutions against the backdrop of a $7 billion IMF loan program that will last until 2027. At the beginning of summer, the PCC, together with the Ministry of Finance, initiated the allocation of 2,000 MW of surplus electricity for Bitcoin mining and the development of artificial intelligence centers. Meanwhile, the IMF opposed providing preferential rates for energy-intensive sectors, including mining.
In May 2025, Saqib announced the creation of Pakistan’s strategic Bitcoin reserve at The Bitcoin Conference. In April, former Binance CEO Changpeng Zhao joined the Pakistan Crypto Council. By June, Saqib, along with Finance Minister Muhammad Aurangzeb, held an online meeting with Strategy founder Michael Saylor, who expressed his willingness to become an advisor to the Pakistani government on the Bitcoin reserve.
The cooperation between Pakistan and El Salvador opens new opportunities for both countries in the digital economy, creating conditions for the exchange of experiences and the implementation of advanced crypto technologies at the state level.