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- 🚨 Gate Alpha Ambassador Recruitment is Now Open!
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El Salvador and Pakistan establish diplomatic relations to cooperate on digital assets.
Pakistan and El Salvador have officially established diplomatic relations for the first time, focusing on cryptocurrency cooperation and digital asset development. The meeting between Bilal Bin Saqib, assistant to the Prime Minister of Pakistan on cryptocurrency, and President of El Salvador Nayib Bukele led to an agreement to share expertise and collaborate on blockchain policy.
Pakistan is operating under a USD 7 billion IMF facility, but is still promoting its cryptocurrency program, including allocating 2,000 megawatts of electricity for Bitcoin mining and launching the Pakistan Digital Asset Agency.
Meanwhile, El Salvador has recognized Bitcoin as legal tender and accumulated more than 6,000 Bitcoin. This partnership could mark a strategic shift for Pakistan towards a blockchain-based economic future.