ISLAMABAD (News Desk) – Pakistan and El Salvador have stepped into a new era of tech diplomacy, signing a Letter of Intent (LoI) to collaborate on Bitcoin and digital assets.
The agreement marks Pakistan’s first official step towards international cooperation in the crypto space.
The deal was inked in a high-level meeting in San Salvador between Bilal Bin Saqib, Pakistan’s minister of state for crypto and blockchain, and President Nayib Bukele of El Salvador. Saqib, who also heads the Pakistan Crypto Council, held detailed discussions focused on public-sector applications of bitcoin and blockchain technology.
Just met one of the most extraordinary visionary leaders of our time, President of El Salvador, @nayibbukele A head of state who doesn’t just talk tech, but challenges it, from AI and robotics to Bitcoin. He’s a leader from the future, who saw the future first because when it… pic.twitter.com/QpS6vVnTxv
— Bilal bin Saqib MBE (@Bilalbinsaqib) July 16, 2025This diplomatic initiative – playfully dubbed “Biplomacy” – underscores the increasing role of decentralised finance in shaping global alliances. El Salvador, the first country to adopt Bitcoin as legal currency, has amassed over 6,200 BTC, now worth more than $760 million after a surge in Bitcoin prices.
For Pakistan, the visit signals growing interest in building a national crypto strategy. With the formation of the Pakistan Virtual Assets Regulatory Authority (PVARA) and plans for a strategic Bitcoin reserve, Islamabad is aiming to join the league of crypto-forward nations.
“The El Salvador model has offered a bold vision,” Saqib stated. “Our partnership is based on innovation, financial inclusion, and mutual learning.”
President Bukele welcomed Pakistan’s interest, pledging El Salvador’s full support in its digital finance journey.
Also read: Bilal Bin Saqib appointed chief adviser on Pakistan Crypto Council