Lex advises global fintech developer on PVARA NOC for Web3 super app

Lex Legal Practice is advising a global fintech developer on obtaining a No Objection Certificate (NOC) from the Pakistan Virtual Asset Regulatory Authority (PVARA) for the provision of Virtual Asset Services in Pakistan.

The firm's advice encompasses the regulatory structuring for the launch of a Web3-based super app combining a crypto wallet, an exchange platform and a marketplace. The super app is designed to enable secure peer-to-peer and peer-to-business payments, digital asset trading, and cross-border e-commerce,  providing one platform for global users within a compliant and transparent Web3 framework.

Super app propositions raise distinctive perimeter questions under virtual assets regimes, since a single application may combine several regulated activities alongside unregulated functionality. The engagement involves decomposing the product architecture into its regulated components and structuring the NOC application accordingly.