Pakistan is moving towards a regulated digital asset ecosystem that could create new opportunities for real estate tokenisation as the country develops its legal framework for virtual assets, blockchain-based services and tokenised investments.
The Virtual Assets Act, 2026 has established the Pakistan Virtual Assets Regulatory Authority (PVARA), which is responsible for licensing and overseeing activities involving virtual assets in the country.
Real estate tokenisation involves representing ownership rights, claims or economic interests associated with property through digital tokens. Pakistan’s legislation defines an asset-referenced token as a virtual asset that can represent ownership rights, claims or economic interests linked to underlying assets. This provision could provide a legal foundation for future asset-tokenisation models, subject to applicable laws and regulatory approvals.
Pakistan has previously explored asset tokenisation as part of its broader digital finance strategy. A government-led event in Karachi in July 2025 brought together officials, financial experts and technology professionals to discuss blockchain innovation, asset tokenisation and the development of a regulatory framework for digital finance.
The regulatory environment has since advanced further, with PVARA requiring virtual asset service providers to obtain licences before offering regulated services in Pakistan. The framework includes provisions covering customer protection, cybersecurity, corporate governance, anti-money laundering measures and financial monitoring.
However, the emerging framework does not automatically authorise digital real estate investment schemes. PVARA has advised businesses seeking to develop tokenisation models or other blockchain-based solutions to engage with the regulator through the available approval mechanisms and obtain the necessary authorisation before offering regulated services.
For Pakistan’s real estate sector, tokenisation could eventually provide new ways to structure and digitally transfer certain property-related interests. The practical adoption of such models will depend on regulatory requirements, existing property and ownership laws, investor protection measures, verification mechanisms and coordination between relevant authorities.
