BRIDGE // Pakistan / PVARA
Building under
PVARA.
Pakistan's Virtual Assets Act, 2026 created PVARA — the country's first dedicated regulator for virtual assets. Here's how Bridge approaches the framework, and how we can support your licensing journey.
What PVARA is — and isn't
The Pakistan Virtual Assets Regulatory Authority is a federal body created by the Virtual Assets Act, 2026. Its mandate is to license, supervise, and enforce against entities providing virtual asset services inside Pakistan.
What PVARA regulates
- Virtual asset service providers (VASPs)
- Custody of virtual assets
- Trading, exchange, and brokerage
- Issuance of stablecoins and tokens
- Tokenization of real-world assets
- Cross-border virtual asset transfers
What sits outside PVARA
- Pure fiat payment rails (still SBP)
- Banking licenses (still SBP)
- Securities (still SECP, with co-ordination)
- AML enforcement (still FMU)
- Identity (still NADRA)
- Foreign exchange controls (still SBP)
Licensing pathways
The Act contemplates a tiered approach. Most early entrants will move through the regulatory sandbox before applying for a full operating license.
Sandbox
Limited live testing under regulator supervision with capped user volumes and transaction sizes. Designed for early-stage VASPs and innovators.
Conditional License
Operating license granted subject to ongoing compliance reporting, capital adequacy, and supervisory checkpoints.
Full License
Full virtual asset service provider license with the ability to operate across the regulated activities defined in the Act.
How Bridge supports applicants
Bridge isn't a law firm. We're the infrastructure layer underneath your application — the technology stack, controls, and audit trails that make a PVARA submission credible.
HSM-backed key management, multi-signature controls, and segregation of customer assets — documented for regulator review.
KYC, AML, sanctions, and Travel Rule controls built into the transaction path, not bolted on after.
Immutable, queryable records for every customer action and every settlement leg. Designed for FMU and PVARA reporting.
Pre-built test scenarios, transaction caps, and supervisor dashboards aligned to PVARA sandbox expectations.
Lahore-based engineering team that can sit across the table from regulators and partner banks during reviews.
Applying for PVARA?
Talk to our Pakistan team about how Bridge infrastructure can underpin your sandbox application or licensing roadmap.