ISLAMABAD (Web Desk) - Pakistan Virtual Assets Regulatory Authority Chairman Bilal bin Saqib has said the number of virtual asset users in Pakistan has surpassed 40 million.
Addressing the United Nations Social Business, Youth and Technology Forum, Bilal bin Saqib said artificial intelligence and tokenisation could become powerful tools for promoting financial inclusion in the developing world.
He said technology alone was not sufficient for financial inclusion and that effective systems and regulatory frameworks were also essential.
The PVARA chairman said around 1.3 billion young people worldwide remained outside the formal financial system, while nearly 900 million financially excluded people had access to mobile phones.
Bilal bin Saqib said Pakistan had established a clear regulatory framework for digital assets.
He said Pakistan’s virtual asset user base had crossed 40 million and emphasised that the country wanted not only to consume technology but also to develop it.
He stressed the need to harness modern technology to help address poverty and unemployment and expand financial opportunities for people.