ISLAMABAD: Fauji Foundation, one of the country’s largest business groups, has signed a Letter of Intent (LOI) with Binance, the leading global blockchain and cryptocurrency exchange by trading volume and users, for commercial collaboration in blockchain, cryptocurrency, and payments in Pakistan.
The announcement was made by the Pakistan Crypto Council (PCC) in a statement on Monday, revealing that the LOI was signed on December 12 at the Fauji Foundation Headquarters, Rawalpindi. The statement mentioned that both parties will explore potential commercial collaboration on blockchain, cryptocurrency, payments, and Web 3.0. ‘As part of the LOI, Binance will provide its expertise, advisory support, and technological and market insights on the crypto industry, while Fauji Foundation will collaborate with Binance on payment infrastructure solutions using digital assets,’ the statement said.
Both organizations will promote cryptocurrency and blockchain education through their academic branches to learners across Pakistan, equipping the youth with the skills needed to work in this sector and be responsible and informed consumers of blockchain, cryptocurrency, payments, and Web 3.0 products and services, the statement added.