Key Notes
- The Minister of State for Crypto and Blockchain in Pakistan met with Cantor Fitzgerald CEO Lutnick to discuss Bitcoin.
- Pakistan is working on launching its national strategic Bitcoin reserve and boosting its industry position.
- A broader Bitcoin market shift is growing with the nation-state adoption.
Pakistan’s Minister of State for Crypto and Blockchain, Bilal Bin Saqib, may collaborate with Wall Street. According to an X post by the Pakistan Crypto Council, Saqib met with Brandon Lutnick, the Chairman and CEO of Cantor Fitzgerald, a global financial services firm.
Series of Meetings to Boost Pakistan’s Crypto Position
Another video showed him also meeting with New York City Mayor Eric Adams. Notably, Adams recently stated that he would ensure a Bitcoin BTC $104 383 24h volatility: 2.6% Market cap: $2.07 T Vol. 24h: $30.32 B bond is launched in the city. Recently, Cantor Fitzgerald, a New York-headquartered global financial powerhouse founded in 1945, has demonstrated increased interest in crypto adoption.
Hence, Lutnick’s meeting with Saqib focused on tokenization, Bitcoin mining, Pakistan’s Web3 future, and avenues of collaboration.
In New York, Pakistan’s Minister of State for Crypto & Blockchain, @BilalBinSaqib , met with @Brandonlutnick , Chairman of 78-year-old Wall Street giant Cantor Fitzgerald ($80B+ AUM), to discuss tokenization, Bitcoin mining, Pakistan’s Web3 future and avenues of collaboration. pic.twitter.com/v3RfccbsWn
— Pakistan Crypto Council (@cryptocouncilpk) June 6, 2025
In late April, there were speculations that Brandon Lutnick was working on a partnership with SoftBank, Tether, and Bitfinex. The alleged goal is to create a $3 billion crypto acquisition company. In late 2024, it was also reported that the firm owns a 5% stake in the largest stablecoin issuer, Tether.
At a point, Lutnick hinted at a major collaboration with Tether to launch a $2 billion Bitcoin-backed lending program. He noted that this move is part of the company’s efforts to “welcome Bitcoin into the financing family of the global financial markets.”
In addition to these crypto connections, Cantor Fitzgerald has other alliances with Anchorage Digital and Copper. These companies serve as its Bitcoin custodians and collateral managers, especially as the firm prepares to launch its new digital asset financing business that targets institutional investors.
Pakistan’s Proposed Bitcoin Reserve Plan
More recently, Saqib also met up with Robert “Bo” Hines, the Executive Director of US President Donald Trump’s Council on Digital Assets. They discussed Pakistan’s proposed Bitcoin reserve plan. The meeting was held at the White House and centered around promoting international collaboration between the countries on crypto assets.
Moreover, they looked at the future of Decentralized Finance (DeFi) and explored ways the two countries can align their approaches to digital assets. It was a great opportunity for Saqib to present Pakistan’s strategic plans for Bitcoin.
The Asian country announced its Strategic BTC Reserve (SBR) at the Bitcoin 2025 Conference held in Las Vegas earlier. Sadiq explained that Pakistan is also looking to develop a comprehensive policy for digital assets. The goal is for both initiatives to regulate the industry and facilitate technological innovation effectively.
“I envision Pakistan to be a leader in the Global South for Digital Assets,” Saqib said. “From launching our Strategic Bitcoin Reserve to unlocking national infrastructure for crypto mining and AI data zones, Pakistan is building a real framework for digital asset adoption and economic modernisation.”
While these regions are becoming more receptive to an SBR, the United Kingdom has outrightly opposed the concept of a national crypto reserve. It claims that its priority is exploring the integration of blockchain technology within its financial system.
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