Karachi (Commerce Desk): A significant development has emerged in the financial sector as the State Bank of Pakistan has allowed crypto companies to open bank accounts.
Following the implementation of the Virtual Assets Act 2026, the central bank clarified that crypto companies licensed by the Pakistan Virtual Assets Regulatory Authority will now be able to establish accounts in banks.
According to the State Bank, these accounts will be opened as “client money accounts,” marking the first time crypto companies are being integrated into the formal banking system.
As per the circular, direct cash deposits or withdrawals will not be allowed in these accounts. Banks will neither use their own funds nor customers’ money for crypto transactions. Furthermore, these accounts will be designated solely for online transactions in Pakistani rupees.
The banking policy also makes it clear that these crypto accounts will be used only for digital transactions; they cannot be used for loans or as collateral, nor will they earn any profit.
The State Bank has directed all banks in the country to strictly monitor these accounts and upgrade their systems in line with modern requirements to manage associated risks.
