Saudi Arabia Establishes Crypto Zone in Karachi as Part of Broader Partnership

Saudi Arabia has signed a Memorandum of Understanding (MoU) with Pakistan's government to establish a crypto and blockchain zone in Karachi. The agreement is part of a broader collaboration to develop mega projects on prime land at the Karachi Port, including an oil refinery and strategic oil reserves.

The project aims to transform the area into a major commercial and maritime hub, with a focus on modern infrastructure and investment opportunities. As part of the partnership, Pakistan has proposed several key initiatives, including the establishment of a digital banking park and international hospitals.

The development work will target commercial infrastructure aimed at attracting investment, generating employment, and supporting urban development. Members of the Saudi delegation have expressed interest in broader cooperation in the maritime sector, including potential involvement in port infrastructure and related projects.