The Minister of State for Cryptocurrency and Blockchain Affairs of Pakistan, Bilal Bin Saqib, is currently actively exploring partnerships with Wall Street.
A post released by the Pakistan Cryptocurrency Committee on June 6 on the X platform shows that Saqib met with Brandon Lutnick, the Chairman and CEO of global financial services giant Cantor Fitzgerald. Another post included a video documenting his meeting with New York City Mayor Eric Adams, who recently pledged to launch Bitcoin bonds in New York City. The post stated, "New York is Lahore."
The meeting with Lutnick coincided with the company's growing interest in the cryptocurrency sector. Reports indicate that the two sides delved into "tokenization, Bitcoin mining, the prospects for Web3 development in Pakistan, and various possibilities for collaboration."
Cantor Fitzgerald, founded in 1945 and headquartered in New York, is a global financial giant with operations in investment banking, fixed income, equities, real estate, special purpose acquisition companies (SPACs), and fintech. The company's official website shows that its investment division currently manages approximately $14.8 billion in assets.
This meeting follows news from late April that Brandon Lutnick is collaborating with SoftBank, Tether, and Bitfinex to establish a cryptocurrency acquisition company valued at $3 billion. By the end of 2024, the company is also reported to hold a 5% stake in stablecoin issuer Tether.
Recently, Cantor Fitzgerald further established strategic partnerships with Anchorage Digital and Copper, designating them as its Bitcoin custodians and collateral management providers, while launching a new digital asset financing business aimed at institutional investors.
These announcements come alongside Saqib's important meeting with Robert “Bo” Hines, the Executive Director of the U.S. President's Digital Assets Council, during his recent visit to the White House. The meeting focused on cryptocurrency cooperation plans between Pakistan and the United States, including potential collaboration opportunities and future decentralized finance initiatives.
At the end of May, Saqib publicly revealed that Pakistan is working to establish a strategic Bitcoin reserve. This marks a significant shift in the country's policy stance, as Pakistan had previously stated it would not legalize cryptocurrency.
Saqib was appointed as Special Assistant for Blockchain and Cryptocurrency Affairs by Prime Minister Shehbaz Sharif at the end of May, shortly after Pakistan announced the allocation of 2,000 megawatts of surplus electricity resources specifically for Bitcoin mining and AI centers.
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Original: “Pakistan's Crypto Minister Discusses Bitcoin (BTC) with New York Mayor and Wall Street”
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