LAHORE MIRROR — Pakistan has more than 40 million virtual asset users, Pakistan Virtual Asset Regulatory Authority (PVARA) Chairman Bilal bin Saqib said on Tuesday.
Addressing the United Nations Social Business, Youth and Technology Forum, he said artificial intelligence and tokenisation could become powerful tools for promoting financial inclusion in the developing world.
“Technology alone is not enough for financial inclusion; effective systems and sound regulations are also essential,” he said.
Mr Saqib noted that 1.3 billion young people worldwide remained outside the formal financial system, while around 900 million financially excluded people had access to mobile phones.
He said Pakistan had established a clear regulatory framework for digital assets.
“Pakistan has more than 40 million virtual asset users,” Mr Saqib said, adding that the country wanted to become not merely a consumer of technology but also a creator.
He stressed the need to harness modern technology to help tackle poverty and unemployment.
