Pakistan and El Salvador Forge Bitcoin Collaboration as Crypto Leaders Meet

Pakistan’s Crypto Minister and Special Assistant to the Prime Minister on Blockchain, Bilal Bin Saqib, met with El Salvador’s President to discuss international cooperation in crypto. Bilal Bin Saqib met President Nayib Bukele this week to discuss future blockchain initiatives as well as Bitcoin strategy.  

Pakistan Makes Efforts for Blockchain Integration

Saqib, who also presides over the Pakistan Crypto Council (PCC), visited San Salvador to explore potential public sector innovation as well as knowledge-sharing opportunities between the two countries. In a post on X.com (formerly Twitter), Saqib praised Bukele as “one of the most extraordinary visionary leaders of our time,” highlighting his bold move to back Bitcoin despite global skepticism.

“He’s a leader from the future, who saw the future first. When it wasn’t cool to back Bitcoin, he stood with conviction. A great example that you don’t need abundant resources to put your country on the map, just vision and unwavering belief,” he said in a tweet.

El Salvador made global headlines in 2021 when it became the first country to adopt Bitcoin as legal tender. Despite ongoing warnings from the International Monetary Fund (IMF), the country has continued its Bitcoin accumulation strategy. According to BitcoinTreasuries.NET, El Salvador now holds more than 6,240 BTC, valued at roughly $740 million.

The meeting culminated in the signing of a Letter of Intent between El Salvador’s Bitcoin Office and the Pakistan Crypto Council. The agreement aims to build a formal framework for cooperation on Bitcoin-related projects. It will focus on advancing public sector use of digital currencies, leveraging blockchain to boost financial inclusion, and tailoring policy development for emerging economies.

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This partnership arrives at a pivotal moment for Pakistan, which is currently undergoing a $7 billion IMF loan program scheduled to run through 2027. While managing its financial commitments, Pakistan has begun cautiously embracing digital assets and exploring the potential of blockchain in governance and financial systems.

In addition to the meeting with Bukele, Saqib and Pakistan’s Finance Minister Muhammad Aurangzeb recently held a virtual session with Bitcoin evangelist Michael Saylor, the executive chairman of MicroStrategy, a firm that holds over $62 billion in Bitcoin reserves. This engagement further underscores Pakistan’s intention to position itself within the global digital asset ecosystem.

“The strategic engagement with global Bitcoin leaders highlights Pakistan’s growing commitment to establishing itself as a key player in the evolving digital asset economy,” the Pakistan Crypto Council stated.

As the world watches El Salvador’s pioneering path with Bitcoin, Pakistan’s efforts to collaborate and adapt could shape a new era of crypto diplomacy and innovation across developing nations.