Pakistan Considers Tokenising Eurobond Debt

Pakistan is considering tokenising its existing Eurobond debt, according to the finance minister. The government is reviewing the possibility of this initiative and is seeking cabinet approval before inviting proposals for the project.

Finance Minister Muhammad Aurangzeb highlighted the potential of tokenisation in managing remittances, noting that Pakistan received $41.6 billion in remittances during the previous fiscal year. He also mentioned that inflows in the first quarter of the current fiscal year suggest the figure could exceed $44 billion this year.

Aurangzeb stated that tokenisation could be a practical use case for remittances, given the significant inflows. The minister made these remarks during a virtual keynote address at the 'Dialogue on Digital Assets and the Future of Banking' event, organised by the Pakistan Banks’ Association (PBA) in collaboration with LUMS.