Pakistan Minister of State for Crypto and Blockchain Bilal Bin Saqib is probably going trying to collaborate with Wall Road.
A June 6 X submit by the Pakistan Crypto Council exhibits that Saqib met with Brandon Lutnick, the chairman and CEO of Cantor Fitzgerald, a worldwide monetary companies agency. A separate video included in a separate submit exhibits that he additionally met with New York Metropolis Mayor Eric Adams, who just lately stated he’ll guarantee a Bitcoin bond is launched within the metropolis. The submit reads:
“New York is Lahore.”
The assembly with Lutnick follows his agency’s just lately elevated curiosity in crypto. The 2 reportedly mentioned “tokenization, Bitcoin mining, Pakistan’s Web3 future and avenues of collaboration.”
Cantor Fitzgerald is a worldwide monetary powerhouse based in 1945 with headquarters in New York, centered on funding banking, mounted revenue, equities, actual property, SPACs and monetary know-how. The agency’s web site notes that its funding arm manages about $14.8 billion in belongings.
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Wall Road big Cantor deepens crypto ties
The report adopted information from late April that Brandon Lutnick was reportedly partnering with SoftBank, Tether and Bitfinex to create a $3 billion crypto acquisition firm. In late 2024, the agency was additionally reported to personal a 5% stake in stablecoin issuer Tether.
Extra just lately, Cantor Fitzgerald has additionally partnered with Anchorage Digital and Copper, counting on them as its Bitcoin custodians and collateral managers because it launches its new digital asset financing enterprise, concentrating on institutional traders.
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Pakistan’s crypto friendship with the US
The bulletins observe Saqib’s assembly with Robert “Bo” Hines, government director of US President Donald Trump’s Council on Digital Property, throughout a go to to the White Home earlier this week. The assembly centered on cryptocurrency initiative cooperation between Pakistan and the US, together with potential partnerships and future decentralized finance initiatives.
In late Could, Saqib additionally revealed that Pakistan is transferring to ascertain a strategic Bitcoin reserve. This marked a shift within the nation’s stance that crypto would by no means be authorized.
Saqib was appointed by Pakistan Prime Minister Shehbaz Sharif in late Could as his particular assistant on blockchain and crypto. That announcement got here shortly after Pakistan allotted 2,000 megawatts of surplus electrical energy completely for Bitcoin mining and synthetic intelligence facilities.
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