Blockchain Sovereign Bonds: Pakistan to Launch Tokenized Bonds and Naya Pakistan Certificates

ISLAMABAD — In a massive tech-driven shift to modernize the capital markets, Finance Minister Muhammad Aurangzeb has chaired a high-level meeting to review the tokenization of sovereign bonds and Naya Pakistan Certificates (NPCs) via blockchain infrastructure. Partnering with the State Bank of Pakistan (SBP) and the newly formed Pakistan Virtual Assets Regulatory Authority (PVARA), the government plans to issue “Digitally Native Notes” (DNNs). This digital infrastructure will allow overseas Pakistanis and retail investors to buy fractional units of government debt with real-time settlement.