Pakistan and Kyrgyzstan have agreed to promote bilateral cooperation in cryptocurrency, blockchain technology and digital finance, state-run Pakistan Television (PTV) reported on Saturday.

The Pakistani government has lately seemed willing to fast-track the adoption of crypto currencies for banks, foreign exchange comp­anies and gold trading. In March, the Pakistan Crypto Council (PCC) was launched, which was a government-backed initiative to regulate, foster, and integrate blockchain and cryptocurrency innovations into the country’s financial and economic framework.

“A high-level video conference was held between Minister of State for Crypto and Blockchain Bilal bin Saqib and Director of the National Investment Agency of Kyrgyzstan Farukht Aminov,” acccording to PTV.

“Both sides emphasised the development of virtual assets, technology exchange, and cooperation in regulatory frameworks,” it added.

The Kyrgyz director highlighted the importance of exchanging information, experiences and best global practices.

Bilal bin Saqib said Kyrgyzstan can become a key partner in innovation and regulation in digital assets. He described Pak-Kyrgyz relations as a strong foundation in the digital economy of the future.

The two countries also discussed the signing of a memorandum of understanding (MoU) for formal cooperation in the crypto sector. The participants expressed their commitment to continue bilateral cooperation for the establishment of a secure, transparent and modern digital economy.

The participants of the video conference also agreed that there is a need for regional partnerships to promote blockchain and digital finance in Central and South Asia.

In July, President Asif Ali Zardari had approved the “Virtual Assets Ordinance, 2025” to establish an independent regulator for virtual assets and cryptocurrencies.

Bitcoin pioneer Michael Saylor has also previously lauded Pakistan’s efforts to move towards cryptocurrency and digital assets.