Karachi: A proposed crypto and blockchain zone could become part of a major waterfront development planned for Karachi under a new cooperation framework involving Pakistani and Saudi stakeholders.
The proposal is among several projects being considered under a Memorandum of Understanding (MoU) signed between the Karachi Port Trust (KPT), the Saudi Business Council-Najd Gateway Holding Company, Arif Habib Dolmen REIT Management Ltd, and the Pakistan Corporate Consortium.
The broader development is planned for a 140-acre KPT-owned site on MT Khan Road and aims to transform the Karachi Port waterfront into a modern commercial and business district.
According to sources familiar with the discussions, Pakistan has proposed the establishment of a dedicated crypto and blockchain zone as part of the project’s finance and technology component. Other proposed initiatives include a digital banking park, an Islamic finance centre and banking units designed to support financial and technological innovation.
The proposal comes as Pakistan moves towards developing a regulatory framework for digital assets and cryptocurrency-related activities. Officials say the wider project is intended to attract investment, support economic activity and create new employment opportunities.
Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry said the collaboration seeks to unlock the commercial potential of Karachi Port’s waterfront assets while supporting long-term urban and economic development. He added that all regulatory and legal requirements under Pakistani law would be fulfilled before any project moves forward.
Beyond the proposed crypto and blockchain zone, the MoU also covers a range of other potential developments, including a marine technology and logistics zone, smart port integration systems, digital customs and shipping services, healthcare and educational institutions, luxury hotels, commercial towers and corporate facilities.
Saudi representatives have also expressed interest in broader cooperation in Pakistan’s maritime sector, including potential involvement in port infrastructure and related development projects. The final scope and implementation of the proposed initiatives will be determined following further consultations between the participating stakeholders.
