Pakistan and El Salvador have formally launched a bilateral relationship centered around Bitcoin, signaling a shared commitment to alternative financial strategies. The new alliance aligns both nations in their pursuit of blockchain-driven economic reform, challenging long-held global monetary frameworks.
According to a report by Bloomberg, Pakistan’s delegation, led by Bilal Bin Saqib, met with El Salvador’s President Nayib Bukele to establish the framework for cooperation. Saqib, who serves as CEO of the Pakistan Crypto Council and special assistant to the Prime Minister on blockchain policy, played a pivotal role in structuring the agreement.
The two countries signed a Memorandum of Understanding (MoU), which outlines joint efforts on Bitcoin adoption in the public sector, financial inclusion initiatives, and the development of crypto-friendly policies tailored for emerging economies. In a statement shared on his X account, Saqib described Bukele as “a leader from the future, who saw the future first…when it wasn’t cool to back Bitcoin. “
Bitcoin Strategy Cemented in New Diplomatic Ties
In a follow-up post, Saqib praised Bukele’s technological vision, stating, “He doesn’t just talk tech, but challenges it-from AI and robotics to Bitcoin.” Their agreement is now seen as the foundation of Pakistan’s digital strategy, with El Salvador offering guidance based on its experience as the first nation to adopt Bitcoin as legal tender.
The meeting resulted in a formal Letter of Intent between Pakistan’s Crypto Council and El Salvador’s Bitcoin Office. This document outlines future collaboration on digital asset infrastructure, education, and blockchain-powered financial systems.
Further confirming the depth of the partnership, Josue Lopez, a Salvadoran government advisor, posted, “Soon we’ll take some of what we’ve learned about #Bitcoin and Energy in El Salvador to Pakistan!”
Meanwhile, Pakistan is already advancing its national crypto strategy. A recent initiative repurposed 2,000 megawatts of surplus electricity, primarily from coal-fired plants, to power Bitcoin mining and artificial intelligence systems. This plan, backed by the Ministry of Finance, underscores Pakistan’s intent to position itself as a digital asset hub.
Additionally, Pakistan launched the Pakistan Digital Asset Authority, a regulatory agency established to oversee its growing $25 billion crypto economy. Estimates suggest that up to 20 million Pakistanis currently hold digital assets, making the country one of the most active crypto markets in South Asia.
Mirroring El Salvador’s approach to Bitcoin reserves, Pakistan is also exploring the creation of a national Bitcoin reserve. President Bukele’s government holds more than 6,240 BTC, which is now valued at $745 million. El Salvador’s holdings remain in profit by over $350 million, even after compliance-related pauses in public-sector acquisition.
Conclusion
Pakistan and El Salvador’s agreement signals a notable turn in global financial diplomacy. Both countries unite behind Bitcoin as a tool for national development. The partnership is expected to accelerate public-sector crypto adoption and reshape economic strategy across emerging markets.
Also Read: Elizabeth Warren Sounds Alarm: Crypto Could Collapse the U.S. Economy Without Tough Laws
