Service overview
Virtual Asset Transfer and Settlement Services concern movement and settlement of virtual assets on behalf of users.
PVARA differentiates the initial NOC, incorporation in Pakistan, and final licensing for one or more authorised services. An NOC is not an operating licence, and each chosen licence class has its own safeguarding, capital, competence and activity rules.
Who is eligible for Virtual Asset Transfer and Settlement Services Licence?
Assess whether the proposed payment/settlement activity also engages banking, securities or payments rules, and meet PVARA system standards. For a licence in this category, Schedule I to the Pakistan Virtual Asset Services Regulations, 2026 prescribes minimum paid-up capital of PKR 200,000,000. Under the published framework the VASP applicant company must have at least three directors, with applicable independent-director and fit-and-proper controls.
Transfer and Settlement Services require the applicable capital and a secure, traceable settlement platform. Cross-border/payment features may engage other competent regulators in addition to PVARA.
For VASP licences, paid-up capital, eligible company form, director qualifications and actual regulated activity must be tested separately for the chosen licence class. A PVARA NOC does not grant permission to operate.
Documents and information for Virtual Asset Transfer and Settlement Services Licence
Prepare the following information for virtual asset transfer and settlement services licence. The relevant regulator may require further forms or certified evidence, depending on the applicant and chosen procedure.
- Transaction and settlement flows
- Wallet/key controls
- AML and travel-rule arrangements where applicable
- Capital and governance
- Systems audit evidence.
- Evidence of subscribed and paid-up capital, with supporting attestation for the applicable PVARA licensing category
How can I obtain Virtual Asset Transfer and Settlement Services Licence in Pakistan?
- 01Map value transfer and settlement flow
Describe wallet-to-wallet transfer, participant identification, settlement finality and sanctions/AML traceability.
- 02Qualify for PVARA service category
Complete NOC, local entity and paid-up capital arrangements with appropriate technology governance.
- 03Apply for Transfer and Settlement Services licence
Present platform settlement, safeguarding, transaction monitoring and cyber continuity controls.
- 04Reconcile and report transfers after permission
Maintain traceability, client asset safeguards and incident reporting.
Regulator resource: PVARA published 2026 licensing tracks
After registration or approval
Maintain traceability, sanctions/AML monitoring, settlement integrity and incident reporting.
Governing law & official references
Virtual Assets Act, 2026; Pakistan Virtual Asset Services Regulations, 2026; and Pakistan Virtual Asset Services Activity Specific Regulations, 2026.
The links below lead to government or official regulatory sources relevant to this service. Use the currently consolidated Act, regulations, statutory checklist and official portal when making an application.
How Chambers can assist
Chambers can review the legal route, identify regulatory constraints, prepare or review the supporting corporate and legal documents, manage the prescribed submission and correspond with the competent authority where instructed. The scope of the engagement will be determined by the applicant’s particular circumstances.
For an initial enquiry, identify the proposed activity, applicant entity and current stage, and provide the available documents indicated above. Please avoid sending confidential or identity-sensitive records through an unencrypted first contact.
Common questions about Virtual Asset Transfer and Settlement Services Licence
Who is eligible for Virtual Asset Transfer and Settlement Services Licence in Pakistan?
Assess whether the proposed payment/settlement activity also engages banking, securities or payments rules, and meet PVARA system standards. For a licence in this category, Schedule I to the Pakistan Virtual Asset Services Regulations, 2026 prescribes minimum paid-up capital of PKR 200,000,000. Under the published framework the VASP applicant company must have at least three directors, with applicable independent-director and fit-and-proper controls.
What documents are needed for Virtual Asset Transfer and Settlement Services Licence?
Transaction and settlement flows; Wallet/key controls; AML and travel-rule arrangements where applicable; Capital and governance. Additional requirements can apply to the actual business or regulator.
How can I obtain Virtual Asset Transfer and Settlement Services Licence in Pakistan?
Map value transfer and settlement flow: Describe wallet-to-wallet transfer, participant identification, settlement finality and sanctions/AML traceability. Qualify for PVARA service category: Complete NOC, local entity and paid-up capital arrangements with appropriate technology governance. Apply for Transfer and Settlement Services licence: Present platform settlement, safeguarding, transaction monitoring and cyber continuity controls. Reconcile and report transfers after permission: Maintain traceability, client asset safeguards and incident reporting.
This guide is general information, not advice on your facts. Check the applicable law, notifications, updated regulator checklists and jurisdiction before acting. The authority alone determines eligibility, acceptance and approval; no outcome or processing period is guaranteed.