The Government of Pakistan and SC Financial Technologies LLC, an affiliate of World Liberty Financial USA (WLF), on Wednesday signed a memorandum of understanding (MoU) to foster collaboration on next-generation digital payment systems and cross-border financial innovations. WLF is the main crypto business of the family of US President Donald Trump.
The deal represents one of the first publicly announced tie-ups between World Liberty, a crypto-based finance platform launched in September 2024, and a sovereign state. It also comes amid a warming of ties between Pakistan and the United States.
Earlier, a source told Reuters that under the agreement, WLF will work with Pakistan’s central bank to integrate its USD1 stablecoin into a regulated digital payments structure, allowing the token to operate alongside Pakistan’s own digital currency infrastructure.
The signing, witnessed by Prime Minister Muhammad Shehbaz Sharif and Chief of Defence Forces/COAS Field Marshal Syed Asim Munir, aims to “enable structured dialogue and technical understanding around emerging digital payment architectures for cross-border transactions,“ read a statement.
Finance Minister Muhammad Aurangzeb and CEO of World Liberty Financial Zachary Witkoff signed the MoU on behalf of the respective sides.
The development comes after a delegation of World Liberty Financial USA led by Zachary Witkoff called on PM Shehbaz in Islamabad today.
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Deputy Prime Minister Mohammad Ishaq Dar, Chief of Defence Forces and Chief of the Army Staff Field Marshal Syed Asim Munir, Minister for Finance Muhammad Aurangzeb, SAPM Syed Tariq Fatemi and Chairman Pakistan Virtual Assets Regulatory Authority Bilal Bin Saqib also attended the meeting.
Welcoming the delegation, the prime minister shared his vision for digital Pakistan aimed at increased connectivity, access, transparency and openness for the citizens. He said the rapidly growing pace of digital payments and financial innovation is an essential part of Pakistan’s rapidly expanding digital economy.
The prime minister appreciated the growing international interest in Pakistan’s digital financial markets and noted with a deep sense of satisfaction that Pakistan is fast becoming part of global digital finance.
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During the meeting, Witkoff showed keen interest in engaging with Pakistan for a secure and transparent digital payment infrastructure, including innovations in cross-border settlement and foreign exchange processes.
He lauded Pakistan’s policy framework, which is helping to position the country as a leading contender in the global digital finance landscape. He expressed a keen desire to further deepen engagement with Pakistan to explore next-generation digital payment and cross-border finance innovations, read the statement.
World Liberty fuelled a sharp increase in income for the Trump family business, known as the Trump Organization, including from foreign entities, in the first half of last year, Reuters reported in October.
Last May, MGX, a state-controlled Abu Dhabi investment company, used the World Liberty stablecoin to buy a $2 billion equity stake in Binance, the world’s largest crypto exchange.
Pakistan has been exploring digital currency projects as it seeks to reduce cash usage and improve cross-border payments such as remittances, a key source of foreign exchange. Its central bank governor said in July it was preparing to launch a pilot for a digital currency and is finalising legislation to regulate virtual assets.
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