Key Highlights
- Pakistan signed a stablecoin deal with World Liberty Financial, signaling a bold push into crypto diplomacy.
- Bilal Bin Saqib emerged as the key bridge linking Islamabad with Donald Trump’s crypto circle.
- Crypto ties may have boosted Pakistan’s White House influence amid rising US-Iran mediation efforts.
Pakistan’s relationship with the United States has seen some sharp turns over the past decade. But what is happening right now might be the most unusual chapter yet. A 35-year-old self-described “crypto bro” named Bilal Bin Saqib has become one of the central figures in bridging the gap between Islamabad and Washington, and the bridge, surprisingly, runs through cryptocurrency.
In January, Pakistan’s most powerful leaders gathered in Islamabad to welcome Zachary Witkoff, the 32-year-old CEO of World Liberty Financial, the crypto platform co-founded by US President Donald Trump. The guest list looked more like a state visit than a ceremony for what was, on paper, a non-binding stablecoin agreement that is exploratory in nature and does not involve a major financial commitment, according to a Bloomberg report.
A group photo from the event showed Zachary Witkoff flanked by Pakistani Prime Minister Shehbaz Sharif and Field Marshal Asim Munir, the country’s powerful military chief. Standing on the other side of Munir was Saqib.
From cleaning toilets to crypto diplomacy
Saqib’s backstory is far from conventional for someone holding the kind of influence he now carries in Pakistan’s policy circles. Originally from Lahore, he has said he worked three jobs while getting his undergraduate degree, including at a university grocery store where he stocked shelves, manned the register, and cleaned toilets. He later got a graduate degree from the London School of Economics in social innovation and entrepreneurship.
Before entering government, Saqib was known for co-founding Tayaba, a charity focused on water access for rural women in Pakistan, and the One Million Meals campaign during COVID, which delivered meals to frontline health workers in the UK. That work earned him recognition from former UK Prime Minister Boris Johnson, and the royal family honored him as a Member of the Order of the British Empire (MBE).
But his crypto credentials were thinner. In the four years before his government appointment, his LinkedIn profile listed him at a company called The Coin Master, which, according to its profile page, has two to 10 employees and operates under the tagline “Helping Tokens Develop Routes to Web3 Markets.”
When asked about his expertise, Saqib told Bloomberg it was “essentially turning an idea into execution.” He added, “I am not a trader. I’m a builder. I am the artist, not the scientist.”
A rapid rise through the government
Starting in March 2025, Saqib was appointed to a series of positions in quick succession: chief adviser to the finance minister on crypto, CEO of the Pakistan Crypto Council, and special assistant to the prime minister on blockchain and crypto. He eventually became chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA).
How exactly he went from relative obscurity to one of Pakistan’s most influential officials in such a short time is still unclear. When asked who approached him to join the government, Saqib reportedly did not give specifics, only mentioning it was the Finance Ministry.
What is clear is that he moved fast once he was in. In April 2025, he brought Binance founder Changpeng Zhao, better known as CZ, on board as a strategic adviser to the Pakistan Crypto Council. CZ had recently finished a US prison term after being convicted for failing to set up appropriate money laundering safeguards. Trump later pardoned Zhao in October.
Saqib posted about the visit on X, writing, “The chef pulled up to Pakistan. We cooking heavy — good vibes, no brakes!” His X profile picture is a photo of him wearing a T-shirt that reads “cryptocurrency is not a crime.”
About three weeks later, Saqib hosted World Liberty Financial executives in Islamabad, where the company signed a letter of intent with Pakistan’s government to deepen cooperation on stablecoin adoption. Pakistan’s government publicized the moment heavily. The deal raised questions in some quarters, given the involvement of Pakistan’s military chief and the Trump family’s direct stake in WLF.
The bigger geopolitical picture
The crypto courtship is not happening in a vacuum. Pakistan has used these connections as part of a broader diplomatic push with the Trump administration.
Last month, Saqib posted a selfie with Zachary Witkoff and other executives at Trump’s Mar-a-Lago club in Florida. That trip came around the same time Pakistan reached a deal with the US to revamp the Roosevelt Hotel in Manhattan, a deal negotiated by Steve Witkoff, Trump adviser and Zachary’s father.
Pakistan has since emerged as a potential intermediary between the US and Iran in an ongoing conflict that threatens global energy supplies. Steve Witkoff confirmed last week that Pakistan delivered a 15-point action plan, and Islamabad has been mentioned as a possible venue for any talks ahead of Trump’s April 6 deadline for Iran.
Michael Kugelman, a resident senior fellow for South Asia at the Washington-based Atlantic Council, noted the significance. “Given how important personal connections are in the Trump White House’s policy process, Pakistan may well have bought itself some influence in the White House that advantaged it when it pitched itself to Washington as a mediator,” he said, citing the deals with Zachary Witkoff. “With this unconventional US administration, unconventional factors can help your cause — and that’s certainly the case with crypto.”
Tangible results, and some risks
The relationship has produced tangible outcomes for Pakistan. The US cut tariffs on Pakistani goods to 19%, significantly lower than many Asian peers and well below US rates on Indian products at the time, which had gone as high as 50% before coming down to 18% in January. The Trump administration also officially designated the Balochistan Liberation Army a terrorist organization, something Pakistan had long pushed for internationally.
On the regulatory front, Pakistan moved rapidly. The country passed a full crypto law in early 2026, established PVARA,launched a regulatory sandbox, invited global exchanges to apply for licenses, and explored integrating WLF’s USD1 stablecoin into its financial system. It also proposed a national crypto reserve and earmarked 2,000 megawatts for crypto mining.
For the US, Pakistan offers strategic value. It is a nuclear-armed country with a large population, and it could help diversify American critical mineral supply chains. In September, Missouri-based US Strategic Metals signed a memorandum of understanding with a military-owned firm to develop rare-earth resources.
Trump’s family business also has a commercial interest. Pakistan has an estimated 40 million crypto users with trading volumes exceeding $300 billion, according to the Finance Ministry. That makes it one of the highest crypto adoption rates in the world, driven largely by residents looking for alternatives in an economy with persistent inflation.
But the risks are real. Pakistan still owes money to the International Monetary Fund, which has historically been wary of sovereign crypto experiments. El Salvador found this out firsthand when its Bitcoin adoption contributed to stalled IMF funding negotiations. And Trump has shown he can turn on any ally quickly, no matter how close the relationship appears.
Saqib, for his part, has acknowledged the role of timing and luck in how things have played out.
“It’s a lot of serendipity, a lot of good timing,” he said. “All the stars have aligned.”
In an earlier interview, he put it differently. “Because of crypto, doors have opened. New conversations have opened, trust has been built. We have gotten an opportunity to rebrand.”
Whether that rebranding holds will depend on factors far beyond any single person’s control. The US-Iran situation remains volatile, IMF pressures continue, and the global crypto regulatory landscape is shifting fast. For now, though, Pakistan’s crypto gambit appears to have opened doors that years of traditional diplomacy could not.
Also Read: Trump’s Script-Flip on Iran Drives Nearly $400M of Liquidation in Crypto
