How Pakistan Used Crypto Diplomacy to Build Ties With Trump’s Inner Circle

by

How Pakistan Used Crypto Diplomacy to Build Ties With Trump’s Inner Circle

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.

The relationship between Pakistan and the United States has changed quite a bit in the last ten years. However, the current situation is particularly unusual. A 35-year-old man named Bilal Bin Saqib, who describes himself as being involved in the world of cryptocurrency, is now playing a key role in improving communication between Pakistan and the United States – and this connection is happening through the use of cryptocurrency.

In January, top Pakistani leaders met with Zachary Witkoff, the 32-year-old CEO of World Liberty Financial, a cryptocurrency company co-founded by former US President Donald Trump. The meeting, held in Islamabad, felt more like an official state visit than a simple signing of an initial, non-binding agreement to explore stablecoin technology, which doesn’t currently involve significant financial investment, according to a Bloomberg report.

A photo from the event showed Zachary Witkoff standing between Pakistan’s Prime Minister Shehbaz Sharif and the head of the army, Field Marshal Asim Munir. Saqib was standing next to Munir on the other side.

From cleaning toilets to crypto diplomacy

My research has revealed a rather unconventional background for Saqib, considering his current influence on Pakistani policy. He grew up in Lahore and has shared that he worked incredibly hard to fund his undergraduate studies – I’ve learned he actually held down three jobs at once, including a position at a university grocery store where he did everything from stocking shelves to running the cash register and even cleaning. He then continued his education, earning a graduate degree from the London School of Economics, focusing on social innovation and entrepreneurship.

Before joining the government, Saqib founded Tayaba, a charity bringing clean water to women in rural Pakistan, and led the One Million Meals campaign during the COVID-19 pandemic, providing food to healthcare workers in the UK. He received recognition for this work from both former UK Prime Minister Boris Johnson and the royal family, who awarded him a Member of the Order of the British Empire (MBE).

However, his experience with cryptocurrency wasn’t very extensive. For four years prior to his government role, his LinkedIn profile showed he worked at a small company called The Coin Master. The company described itself as helping new digital tokens connect with Web3 markets.

Saqib explained to Bloomberg that his strength lies in bringing ideas to life. He clarified he doesn’t focus on trading, but on creating and building things – seeing himself as a creative, rather than an analyst.

A rapid rise through the government

My research revealed that Saqib’s involvement with crypto and blockchain in Pakistan began in March 2025 with his appointment as chief advisor to the finance minister on cryptocurrency. This was quickly followed by roles as CEO of the Pakistan Crypto Council and then as a special assistant to the prime minister, focusing on blockchain and crypto assets. Ultimately, I discovered he became the chairman of the Pakistan Virtual Assets Regulatory Authority, or PVARA.

It’s still not clear how Saqib quickly rose to become a powerful figure in Pakistan. When questioned about how he joined the government, he simply stated it came through the Finance Ministry, without providing any details.

Once he took the position, he quickly began making changes. In April 2025, he appointed Changpeng Zhao, the founder of Binance (known as CZ), as a strategic advisor to the Pakistan Crypto Council. CZ had just completed a prison sentence in the US after being found guilty of not having proper money laundering controls. Donald Trump later issued a pardon for Zhao in October.

Saqib shared news of the visit on X (formerly Twitter), excitedly writing, “The chef arrived in Pakistan! We’re cooking up something big—positive energy all around!” His profile picture shows him wearing a shirt with the message “cryptocurrency is not a crime.”

Around three weeks afterward, Saqib invited leaders from World Liberty Financial to Islamabad. There, the company and the Pakistani government signed an agreement to explore using stablecoins more widely. The Pakistani government announced the deal with significant publicity. However, the agreement sparked some concern because of the involvement of Pakistan’s military leader and the fact that the Trump family has a direct financial interest in World Liberty Financial.

The bigger geopolitical picture

As a crypto investor, I’ve noticed Pakistan’s interest isn’t just about the tech itself. It seems like they’ve been using connections within the crypto world to build relationships with people in the Trump administration – it’s a diplomatic strategy as much as anything else.

Saqib recently shared a photo of himself with several executives, including Zachary Witkoff, at Donald Trump’s Mar-a-Lago club in Florida. This visit coincided with Pakistan reaching an agreement with the US to renovate the Roosevelt Hotel in New York City – a deal that was led by Steve Witkoff, an advisor to Trump and Zachary’s father.

Pakistan is now playing a key role in trying to ease tensions between the US and Iran, which could disrupt the world’s energy supply. Last week, Steve Witkoff stated that Pakistan presented a 15-step plan for resolving the conflict, and it’s being considered as a location for potential negotiations before the April 6th deadline set by former President Trump for Iran.

As an analyst, I’ve been following the situation closely, and it seems clear that Pakistan may have strategically leveraged personal connections within the Trump White House. The deals involving Zachary Witkoff suggest they potentially gained influence, which could have been helpful when positioning themselves as a mediator to Washington. This administration was unique, and as we’ve seen, unconventional approaches – like utilizing cryptocurrency – can surprisingly advance a country’s interests.

Tangible results, and some risks

The partnership has delivered real benefits for Pakistan. For example, the US lowered tariffs on goods from Pakistan to 19%, a much lower rate than many other countries in Asia faced, and significantly less than the tariffs on goods from India, which were as high as 50% before being reduced to 18% in January. Additionally, the US government officially labeled the Balochistan Liberation Army as a terrorist group, a designation Pakistan had been advocating for on the global stage.

Pakistan quickly developed regulations for cryptocurrency. In early 2026, they passed a comprehensive crypto law, created the Pakistan Virtual Assets Regulatory Authority (PVARA), and launched a testing ground for new crypto businesses. They also encouraged international exchanges to apply for operating licenses and considered using WLF’s USD1 stablecoin within their financial system. Furthermore, Pakistan proposed creating a national crypto reserve and dedicated 2,000 megawatts of power to crypto mining operations.

Pakistan is strategically important to the United States. As a country with nuclear weapons and a large population, it could also help the US secure more diverse sources for essential minerals. Just recently, in September, a Missouri-based company called US Strategic Metals signed an agreement with a Pakistani military-owned firm to begin developing resources for rare earth minerals.

Donald Trump’s business has financial ties to cryptocurrency. Pakistan is becoming a major hub for crypto, with around 40 million users and over $300 billion in trading. This high level of adoption is largely due to people seeking ways to preserve their wealth in a country facing ongoing inflation.

However, there are genuine risks involved. Pakistan still has debts to the International Monetary Fund, and the IMF has traditionally been cautious about countries experimenting with cryptocurrencies. El Salvador experienced this when its move to adopt Bitcoin complicated talks for further funding from the IMF. Plus, Donald Trump has proven he can quickly change his stance on any ally, regardless of how strong their relationship seems.

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.”

He previously explained that cryptocurrency had created new opportunities. It allowed them to start fresh conversations, establish trust, and essentially revitalize their image.

It’s uncertain if Pakistan’s new approach will succeed, as many things outside of their control could impact the situation. Ongoing issues like the relationship between the US and Iran, demands from the International Monetary Fund, and rapidly changing global rules for cryptocurrency all play a role. However, this move towards cryptocurrency seems to have created opportunities that traditional diplomatic efforts haven’t been able to achieve.

Read More

2026-03-30 07:20