ISLAMABAD, November 10, 2026: The Virtual Asset Alliance of Pakistan (VAAP) has been formally launched to promote cryptocurrency investor protection, cybersecurity awareness and responsible digital asset practices amid growing concerns over crypto asset theft and online financial risks.
The announcement was made during a press conference in Islamabad, where alliance representatives outlined the organisation’s objectives, leadership structure and plans to support Pakistan’s emerging virtual asset industry.
Hinza Asif, founder of Asia Web3 Alliance Japan, has been appointed the alliance’s first chairperson, while Syed Ehtesham Hamdani, country manager at HTX, will serve as senior vice chairman.
Speaking at the event, Hamdani said Pakistan ranked third globally in cryptocurrency adoption, reflecting growing public interest in digital assets and blockchain-based financial technologies.
However, he cautioned that estimates suggesting Pakistan has approximately 20 million cryptocurrency users remain unverified, with no independently authenticated figures currently available.
He said VAAP intends to collect reliable data on cryptocurrency users and market participation to support evidence-based discussions about the country’s digital asset sector.
The alliance will focus on investor education, cybersecurity awareness, independent research and the promotion of transparent and responsible practices within the virtual asset industry.
According to Hamdani, the initiative also aims to connect Pakistani stakeholders with international expertise while encouraging cooperation among industry professionals, researchers and local institutions.
He said the organisation would seek to improve public understanding of cryptocurrency-related risks, including digital asset theft, online fraud and cybersecurity vulnerabilities.
The alliance clarified that it does not possess regulatory authority or official government endorsement.
Instead, VAAP will operate as an industry collaboration platform supporting responsible market conduct, research and informed policy discussions.
Its establishment comes as Pakistan’s growing interest in cryptocurrencies highlights the need for stronger consumer awareness, reliable industry data and improved cybersecurity practices.