ISLAMABAD: Pakistan on Monday announced that Changpeng Zhao, the founder of Binance the largest cryptocurrency exchange in the world has joined the recently established Pakistan Crypto Council (PCC) as its strategic adviser.

`In a groundbreaking move poised to reshape the global crypto landscape, Changpeng Zhao (CZ) visionary founder of Binance and one of the most influential figures in Web3 has officially been appointed as a Strategic Adviser to the PCC, said the Ministry of Finance in a statement after CZ`s meeting with the PCC here on Monday.

The meeting was chaired by MinisterforFinanceMuhammad Aurangzeb and brought togetherkey government stakeholders, including the chairman of the Securities and Exchange Commission of Pakistan (SECP), governor of the State Bank of Pakistan and federal secretaries for law and IT.

During his visit, CZ also held separate meetings with Prime Minister Shehbaz Sharif and Deputy Prime Minister and Foreign Minister Ishaq Dar.

`This is a landmark moment for Pakistan,` said Mr Aurangzeb who is also the PCC chairman.

`We are sending a clear message to the world: Pakistan is open for innovation. With CZ onboard, we are accelerating our vision to make Pakistan a regional powerhouse for Web3, digital finance, and blockchaindriven growth,` he said.

`Pakistan is opening its doorsto the future of finance,` said Bilal Bin Saqib, the CEO of PCC.

`And who better to guide us on this journey than CZ a pioneer who built the world`s largest crypto exchange andchanged the way billions think about financial freedom.

As an official strategic adviser to the council, CZ will provide guidance on regulation, infrastructure, education and adoption. He will work closely with the government and the private sector to create a compliant, inclusive, and globally competitive crypto ecosystem, the announcement said.

`Pakistan is a country of 240 million people, and over 60pc of whom are under the age of 30.

The potential here is limitless, the finance ministry quoted CZ as saying.

The Pakistan Crypto Council established under the Finance Division is spearheading this digital transformation. The ministry`s statement said: `CZ`s appointment signals a bold new era, where Pakistanjoins the ranks of Singapore, Dubai, and Switzerland as a progressive, Web3-ready nation.

Binance was founded in 2017 by CZ, a developer who had previously created high-frequency trading software. Binance was initially based in China, then moved to Japan shortly before the Chinese government restricted cryptocurrency companies. Binance subsequently left Japan for Malta and currently has no official company headquarters, according to Wikipedia.

It said Binance had been the subject of lawsuits and challenges from regulatory authorities throughout its history. As a result, Binance has been banned from operating or ordered to cease operations in some countries, and has been issued fines.