ISLAMABAD: The Cabinet Committee on State-Owned Enterprises approved a summary earlier this week for the appointment of four independent directors to the board of the Strategic Digital Wallet Company, a state-owned enterprise established to manage, safeguard and administer Pakistan's sovereign virtual assets.
The federal cabinet approved the company's establishment last year under a recently enacted regulatory framework. The company was incorporated as a non-profit entity under Section 42 of the Companies Act, 2017, and is registered with the Securities and Exchange Commission of Pakistan. Its creation follows the promulgation of the Virtual Asset Ordinance, 2025, which provides a comprehensive legal framework for regulating virtual assets and Virtual Asset Service Providers in the country.
According to official documents, the government appointed Ahmed Taimoor Hasan as the company's first CEO on an additional charge basis. He will serve until the board appoints a permanent chief executive in accordance with the State-Owned Enterprises (Governance and Operations) Act, 2023.
Three senior government officials were nominated as founding directors to fulfill the SECP's incorporation requirements: Hasan, joint secretary of the Finance Division; Humera Azam Khan, joint secretary of the Cabinet Division; and Amir Muhammad Khan Niazi, joint secretary of the Law and Justice Division.
The company is expected to serve as a key digital infrastructure platform for the public sector, facilitating future use cases such as tokenized government bonds, sovereign digital currencies and cross-border blockchain transactions within a regulated environment.
The initiative is being led in part by the Pakistan Crypto Council, which recommended creating a secure, government-operated digital wallet system to manage public-sector virtual assets.
Analysts say the government's decision signals its intent to proactively embrace digital finance while addressing risks posed by unregulated crypto markets.
"The Strategic Digital Wallet Company lays the groundwork for a secure and inclusive digital financial future," said a source familiar with the cabinet's deliberations.
The move places Pakistan among a growing group of countries developing institutional frameworks to regulate virtual assets while leveraging blockchain technology for governance and financial innovation.
