Chairman of the Exchange Companies Association of Pakistan, Malik Bostan, has projected a major jump in the country’s remittance inflows, saying they could climb to around $50 billion if cryptocurrency is legalized and brought under a formal regulatory structure.

He shared these views during a meeting with Bilal bin Saqib, which was attended by senior figures from the exchange companies sector including Zafar Paracha, Sheikh Sajid Hussain, Syed Zohaib, and others.

The discussion took place against the backdrop of Pakistan’s ongoing move toward regulating digital assets through the proposed Pakistan Virtual Assets Regulatory Authority (PVARA). The framework is designed to bring virtual asset activity into a licensed system, aiming to increase oversight, improve transparency, and connect digital finance with the formal economy.

Bilal bin Saqib explained that under the proposed Crypto Council structure, exchange companies would be brought into the regulatory system in phases. In the initial stage, firms would be permitted to open accounts after receiving an NOC from the council.

He added that in the next phase, these companies would be fully integrated into the formal framework, with preparations underway to begin regulated transactions so that the broader economy can benefit from digital financial channels.

Malik Bostan said Pakistan is moving into a new digital financial era and, if properly implemented, these reforms could significantly reduce transaction costs—from about 6% down to nearly 1%.

He maintained that the combination of crypto legalization and structured digital licensing could strengthen formal inflows and expand remittance channels, potentially lifting Pakistan’s total remittances to around $50 billion in the coming period.