Trust Securities and Brokerage Limited on Friday said its board has approved plans to apply for licenses to offer virtual asset services in Pakistan, including custody, exchange, and transfer and settlement services.
In a notice to the Pakistan Stock Exchange (PSX), the company said the applications would be submitted to the Pakistan Virtual Assets Regulatory Authority (PVARA) under the regulatory framework established by the Virtual Assets Act, 2026.
The proposed licenses would allow the company to undertake custody services, virtual asset exchange services, and virtual asset transfer and settlement services, subject to obtaining all required regulatory approvals and authorizations.
Trust Securities said it has not started providing any regulated virtual asset services and would not undertake activities requiring regulatory authorization until the necessary licenses and approvals are obtained.
The company said the initiative would allow it to explore opportunities in the emerging virtual asset ecosystem within the applicable legal and regulatory framework.
The proposed move would also be presented to shareholders at the company’s upcoming annual general meeting and may require amendments to its memorandum and articles of association, the company said. Trust Securities said it would inform the PSX of the status of its applications and any material developments in accordance with regulatory requirements.
Authorized capital
Separately, the board, at a meeting held Sept. 25, approved, subject to shareholders’ approval through a special resolution, a proposal to increase the company’s authorized share capital.
The company’s existing authorized share capital stands at Rs. 750 million, divided into 750 million ordinary shares of Rs. 1 each. The board has proposed increasing the authorized share capital to Rs. 1 billion, divided into 1 billion ordinary shares of Rs. 1 each.
The company said the relevant clauses of its memorandum and articles of association would be amended accordingly, subject to the required approvals. The proposal will be presented to shareholders at the company’s annual general meeting scheduled for Oct. 26.