Fuze Finance and HBL Asset Management Limited have signed an agreement to explore tokenised investment products for Pakistani investors living abroad, in a move that could eventually let the diaspora buy into selected Pakistani investment products through regulated digital channels. The memorandum of understanding was announced on November 4, 2026.
What happened?
Regulated digital assets infrastructure provider Fuze Finance and HBL Asset Management Limited, a wholly owned subsidiary of HBL, Pakistan’s largest commercial bank, announced they will jointly explore the tokenisation and offshore distribution of investment products for Pakistani diaspora investors around the world. The collaboration follows the signing of a memorandum of understanding between the two companies.
- The initiative is exploratory: any future product launch would depend on legal assessment, regulatory approvals and definitive agreements between the parties.
- HBL Asset Management will identify and structure investment products suitable for tokenisation, including mutual funds, real estate investment trusts (REITs) and other eligible yield-generating assets.
- Fuze will provide the regulated digital asset infrastructure and distribution layer needed to offer those products through compliant channels.
- The companies estimate the Pakistani diaspora at around 13 million people worldwide.
- The firms point to fast growth in the field: PwC expects global tokenised fund assets under management to grow at a compound annual rate of 41 percent to reach US$715 billion by 2030.
- Fuze chief executive Mohammed Ali Yusuf said the collaboration expands access to high-quality investment products through digital asset rails, with compliance, investor protection and regulatory requirements built in from the outset, while HBL Asset Management chief executive Mir Adil Rashid said Fuze provides the robust regulated infrastructure required to meet the bank’s institutional standards.
What it means for people in Pakistan:
For now, this is an exploration, not a product Pakistanis abroad can buy. If it reaches launch, tokenisation could give overseas Pakistanis a simpler, regulated route into Pakistani mutual funds and similar products, and channel more diaspora savings into the country’s formal investment market. Any real benefit, though, will depend on the regulatory approvals and final agreements that are still to come.
