PSX-listed Trust Securities plans to enter crypto business, seeks PVARA licences
Trust Securities & Brokerage Limited (TSBL) said its board had approved plans to seek regulatory licences to offer virtual asset services and separately advised the company to proceed with steps to launch a series of special purpose acquisition companies (SPACs). The company disclosed the development in a number of notices to the Pakistan Stock Exchange (PSX) on Friday. In a notice to the bourse,…
Trust Securities & Brokerage Limited (TSBL) announced plans to enter the crypto industry and seek regulatory approvals in a series of notices to the Pakistan Stock Exchange. The board approved seeking licensing from the newly established Pakistan Virtual Assets Regulatory Authority (PVARA) to provide virtual asset services, including custody, exchange, and settlement services.
TSBL intends to apply for these licences in compliance with the Virtual Assets Act, 2026, which governs the licensing and regulation of Virtual Asset Service Providers (VASPs) in Pakistan. The company has not yet begun operating any regulated virtual asset services and will not engage in activities requiring authorization until all necessary approvals and licenses are obtained.
Additionally, TSBL is considering launching a series of Special Purpose Acquisition Companies (SPACs) as part of its strategic plans. The board has advised the company to proceed with the necessary steps and seek further regulatory clearances and shareholder approvals. However, this SPAC initiative is still in the preliminary stage, and no definitive transactions or approvals have been made as of the announcement date.
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