Binance, JazzCash Sign MoU to Explore Pakistan’s Virtual Assets
- Binance and JazzCash plan to assess compliant virtual asset services under Pakistan’s rules.
- The MoU focuses on education, awareness, and regulated digital asset development efforts.
- Any future rollout will proceed only after approvals from Pakistan’s virtual asset authority.
Binance and JazzCash have signed a Memorandum of Understanding in Abu Dhabi to explore new virtual asset services in Pakistan. The agreement aims to support crypto adoption under Pakistan’s emerging rules and to widen digital financial inclusion.
The agreement brings Binance, a global blockchain and cryptocurrency platform, and JazzCash, Pakistan’s leading digital financial services provider, into a joint effort to study how virtual asset solutions can align with the country’s developing regulations.
Binance–JazzCash MoU Targets Regulated Virtual Asset Adoption
According to a joint statement, the MoU creates a structure for talks on education, outreach, and product exploration. The partners plan to assess virtual asset services that match regulatory requirements. They also want those services to respond to real market needs rather than speculation.
Rachel Conlan, Chief Marketing Officer at Binance, said the company sees a clear opportunity in Pakistan’s move toward clear rules. She said, “Binance is proud to partner with JazzCash as we work together to grow digital assets in Pakistan.”
JazzCash views the arrangement as a chance to deepen its understanding of global crypto trends. The firm also wants to determine how those trends can support Pakistan’s rules-based approach to digital assets. It links that work to broader virtual asset adoption in the country.
PVARA and Pakistan’s Virtual Asset Rules Shape the Partnership
The MoU comes as Pakistan builds a formal regime for virtual assets. Authorities created the Pakistan Virtual Assets Regulatory Authority or PVARA to license and supervise digital asset activities nationwide.
PVARA oversees registration of virtual asset service providers and works to align Pakistan with global standards. These include Financial Action Task Force guidance on anti–money laundering and counter–terrorism financing for digital assets.
Binance and JazzCash intend to move forward only when approvals and licenses come into place. They also plan to continue talks as Pakistan refines its virtual asset framework and develops a comprehensive licensing regime.
Industry experts expect the discussions to cover on–ramps, off–ramps, and integration with existing payment channels. In that context, Binance brings global compliance experience while JazzCash contributes local reach and knowledge of Pakistan’s financial system.
Related: Binance Expands in Abu Dhabi with New ADGM Global License
Financial Inclusion and Digital Services at the Center of Talks
Binance reports more than 280 million registered users and offers trading, finance, research, and Web3 services. The company positions its compliance and security controls as foundations for any regional expansion in virtual assets.
Furthermore, JazzCash serves over 55 million customers and around 750,000 merchants through mobile wallets and digital payments. Its product suite covers everyday payments, lending, insurance, welfare disbursements, and government payments to citizens.
Murtaza Ali, CEO of JazzCash, said the company aims to support safe participation in the digital economy. He added that the MoU helps JazzCash engage responsibly and support regulatory progress. It also aims to build trust and transparency for customers.
Both partners expect education and awareness to form an early focus of cooperation. Possible initiatives include basic training on how regulated virtual assets work, risk concepts, and the role of licensing.
Additionally, the firms are studying how blockchain and virtual assets could link with JazzCash’s AI and digital commerce efforts. Any future products would seek to expand access to compliant virtual asset channels through familiar local platforms.
