Pakistan’s crypto minister joins NYC mayor, Wall Street in Bitcoin talks

Pakistan Minister of State for Crypto and Blockchain Bilal Bin Saqib is likely looking to collaborate with Wall Street.

A June 6 Xpostby the Pakistan Crypto Council shows that Saqib met with Brandon Lutnick, the chairman and CEO of Cantor Fitzgerald, a global financial services firm. A separate video included in a separatepostshows that he also met with New York City Mayor Eric Adams, who recently said hewill ensure a Bitcoin bond is launched in the city. The post reads:

The meeting with Lutnick follows his firm’s recently increased interest in crypto. The two reportedly discussed “tokenization, Bitcoin mining, Pakistan’s Web3 future and avenues of collaboration.”

Cantor Fitzgerald is a global financial powerhouse founded in 1945 with headquarters in New York, focused on investment banking, fixed income, equities, real estate, SPACs and financial technology. The firm’swebsitenotes that its investment arm manages about $14.8 billion in assets.

Related:Pakistan’s crypto envoy courts Wall Street allies

Wall Street giant Cantor deepens crypto ties

The report followed news from late April that Brandon Lutnick was reportedly partnering with SoftBank, Tether and Bitfinex tocreate a $3 billion crypto acquisition company. In late 2024, the firm was alsoreported to own a 5% stake in stablecoin issuer Tether.

More recently, Cantor Fitzgerald has also partnered with Anchorage Digital and Copper,relying on them as its Bitcoin custodians and collateral managersas it launches its new digital asset financing business, targeting institutional investors.

Related:Trump-backed World Liberty Financial partners with Pakistan Crypto Council

Pakistan’s crypto friendship with the US

The announcements followSaqib’s meeting with Robert “Bo” Hines, executive director of US President Donald Trump’s Council on Digital Assets, during a visit to the White House earlier this week. The meeting focused on cryptocurrency initiative cooperation between Pakistan and the US, including potential partnerships and future decentralized finance initiatives.

In late May, Saqib also revealed thatPakistan is moving to establish a strategic Bitcoin reserve. This marked a shift in the country’s stance that cryptowould never be legal.

Saqib wasappointed by Pakistan Prime Minister Shehbaz Sharifin late May as his special assistant on blockchain and crypto. That announcement came shortly after Pakistan allocated2,000 megawatts of surplus electricity exclusively for Bitcoin miningand artificial intelligence centers.

Magazine:US risks being ‘front run’ on Bitcoin reserve by other nations: Samson Mow

Explore more articles like this

Subscribe to the Markets Outlook newsletter

Get critical insights to spot investment opportunities, mitigate risks, and refine your trading strategies. Delivered every Monday

By subscribing, you agree to ourTerms of Services and Privacy Policy