ISLAMABAD: The federal cabinet has approved the creation of a new state-owned enterprise (SOE), the Strategic Digital Wallet Company, to manage and safeguard government-owned virtual assets, officials confirmed.
The move comes following the promulgation of the Virtual Asset Ordinance 2025, which introduces a comprehensive legal framework for the regulation of virtual assets and Virtual Asset Service Providers (VASPs) in Pakistan. The ordinance aims to promote blockchain-based financial technologies while ensuring compliance, transparency, and national security.
The Strategic Digital Wallet Company will be incorporated as a non-profit entity under Section 42 of the Companies Act, 2017, and registered with the Securities and Exchange Commission of Pakistan (SECP). The initiative is being spearheaded by the Pakistan Crypto Council, which proposed the creation of a secure, government-operated digital wallet to manage public-sector assets under the new regulatory regime.
To meet SECP requirements, the government has nominated three founding directors:
- Taimoor Hasan, Joint Secretary, Finance Division
- Humera Azam Khan, Joint Secretary, Cabinet Division
- Amir Muhammad Khan Niazi, Joint Secretary, Law & Justice Division
In addition, Ahmed Taimoor Hasan has been appointed as Chief Executive Officer (CEO) on an additional charge basis until the Board appoints a regular CEO in line with the State-Owned Enterprises (Governance and Operations) Act, 2023.
The Strategic Digital Wallet is expected to serve as foundational infrastructure for managing Pakistan’s digital assets, opening the door to future innovations such as tokenized government bonds, sovereign digital currencies, and cross-border blockchain transactions in a regulated environment.
Industry observers see the initiative as a progressive step that could position Pakistan among forward-looking nations adopting digital economies, while also addressing risks associated with unregulated cryptocurrency activities.
