PANews reported on December 14th, citing Reuters, that Pakistan's Ministry of Finance stated that Pakistan has signed a memorandum of understanding with cryptocurrency exchange Binance to tokenize up to $2 billion worth of assets (including sovereign bonds, treasury bills, and commodity reserves) to improve liquidity and attract investors. Furthermore, the Virtual Assets Authority stated that Pakistan has also preliminarily approved Binance and digital asset platform HTX's registration with the regulator to establish local subsidiaries and begin preparing applications for full exchange licenses.