Pakistan has taken another step toward strengthening its digital finance ecosystem after the Ministry of Finance signed a Memorandum of Understanding with SC Financial Technologies LLC, an affiliated entity of World Liberty Financial. The collaboration focuses on emerging digital payment architectures, including discussions around the potential use of the firm’s stablecoin, USD1, for cross-border transactions. The development signals Pakistan’s intent to actively engage with global fintech players as digital finance models continue to evolve worldwide.
The MoU is designed to establish a structured dialogue between both sides and deepen technical cooperation on secure, compliant, and transparent digital payment infrastructure. It also covers innovation in cross-border settlement mechanisms and foreign exchange processes, areas that are increasingly being reshaped by blockchain-based and digital asset technologies. Officials familiar with the agreement said the initiative aims to explore new financial models while ensuring alignment with regulatory requirements and financial stability.
A delegation led by Zachary Witkoff, Chief Executive Officer of SC Financial Technologies LLC, met senior Pakistani officials during the visit. Discussions centered on how countries across different regions are adapting regulatory frameworks and payment systems in response to technological shifts in digital finance. The meetings focused on balancing innovation with oversight, particularly in areas such as stablecoins, cross-border settlements, and digital currencies.
Government officials said the engagement reflects Pakistan’s rising profile in global digital finance discussions. World Liberty Financial is now holding its second round of high-level meetings in the country, which industry observers interpret as a sign of sustained interest. Analysts believe Pakistan is being viewed as a potential early partner jurisdiction for piloting new digital payment models, including the USD1 stablecoin, due to its market size and growing digital adoption.
Commenting on the development, Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb said Pakistan aims to remain proactive in shaping the future of finance rather than reacting to global shifts after they occur. He said the government’s approach is to engage with established international players, study emerging financial structures, and ensure that any innovation explored remains aligned with regulation, economic stability, and national priorities.
This engagement builds on a Letter of Intent signed in April between World Liberty Financial and the Pakistan Crypto Council, led by Chief Executive Officer Bilal Bin Saqib. That earlier agreement laid the groundwork for cooperation and knowledge-sharing in emerging financial technologies, including blockchain-based payments and digital assets. The latest MoU is seen as a continuation of that dialogue, moving discussions from concept to potential implementation pathways.
The development also follows recent regulatory progress in Pakistan’s digital asset sector. On December 12, the Pakistan Virtual Asset Regulatory Authority issued No Objection Certificates to Binance and HTX, allowing both platforms to begin local incorporation. The approvals were granted in under five months, a timeline that compares favorably with regulatory processes in many other jurisdictions. As part of broader engagement, Binance founder Changpeng Zhao and TRON founder Justin Sun also visited Pakistan for discussions with public and private sector stakeholders.
Pakistan is increasingly being viewed as a high-potential frontier market for digital payments and financial innovation. The country records annual remittance inflows exceeding USD 38 billion, has a rapidly expanding digital economy, a large base of crypto users, and significant estimated digital asset trading volumes. These factors have drawn growing interest from global fintech firms exploring scalable and regulation-aware markets.
With increasing international engagement and a regulation-first approach, Pakistan is positioning itself as a participant in the global evolution of digital finance. The MoU with SC Financial Technologies reflects a broader strategy to explore new payment technologies while maintaining oversight, signaling the country’s ambition to play a role in the future of cross-border payment systems and digital financial infrastructure.
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