Expression of Interest (EoI) for VASP Licensing in Pakistan

Issued by:

Pakistan Virtual Asset RegulatoryAuthority (PVARA)

Office#12, Ground Floor, EvacueeTrust Building, Islamabad, Pakistan

Email: info@pvara.gov.pk
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Date of Issue: September 13,2025

Submission Deadline: October10th, 2025

EoIReference: PVARA/EoI/2025/001
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1. Background

Under the Virtual AssetsOrdinance, 2025 (Ordinance No. VII of 2025, promulgated July 8,

2025), PVARA regulates VirtualAssets and VASPs to promote innovation while ensuring AML/CFT compliance. PVARAseeks EoIs from established global exchanges and VASPs to apply for licensingto operate in Pakistan.
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2. Objective

To identify qualified entitiesfor potential licensing, fostering a regulated Virtual Asset ecosystem alignedwith FATF standards.
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3. Eligibility

• OperatingVASPs/exchanges in ≥1 jurisdiction outside Pakistan.

• ProvenAML/CFT/KYC compliance, secure operations, and Virtual Asset experience.
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4. Required Details

• Provide(≤5 pages, with docs):

• Profile:Name, registration, establishment year, HQ, operations overview (e.g., assetshandled, volume, users).

• Licensing:Jurisdictions licensed (e.g., US-SEC/MSB, UK-FCA, EU-VASP, UAE-VASP,Singapore-MAS), authority names, license numbers/dates, certifications.

• Operations:Services (e.g., trading, custody), tech/security (e.g., cold storage,insurance).

PakistanInterest: Market rationale, proposed model (e.g., partnerships), currentposition in Pakistan (users and volume).
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5.Submission

Email PDF to info@pvara.gov.pk

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6. Evaluation

Assessed on Ordinance alignment;shortlisted invited for NoC applications within 30 days. PVARA may seekclarification on certain points.
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7. Contact

Queries: info@pvara.gov.pk.
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Chairperson, PVARA

September 13, 2025