Pakistan has taken a significant step toward integrating digital assets into its financial system by signing an agreement with a firm affiliated with World Liberty Financial, the main crypto business linked to the family of US President Donald Trump. The agreement focuses on exploring the use of World Liberty’s USD1 stablecoin for cross-border payments, marking a notable development in Pakistan’s digital finance and payment infrastructure ambitions.
The Pakistan Virtual Asset Regulatory Authority (PVARA) confirmed on Wednesday that it had signed a memorandum of understanding with SC Financial Technologies, a Delaware-registered company described as an affiliated entity of World Liberty Financial. According to PVARA, the MoU will enable structured dialogue and technical understanding around emerging digital payment architectures, including stablecoin-based settlement mechanisms.
The announcement represents one of the first publicly disclosed partnerships between World Liberty Financial and a sovereign state. World Liberty is a crypto-based finance platform launched in September 2024 and has gained attention for its rapid growth and high-profile political connections. The development also comes at a time when diplomatic and economic engagement between Pakistan and the United States has shown signs of improvement.
Under the agreement, SC Financial Technologies will work closely with Pakistan’s central bank to explore the integration of the USD1 stablecoin into a regulated digital payments framework. According to a source involved in the discussions, the arrangement would allow the stablecoin to operate alongside Pakistan’s existing and planned digital currency infrastructure, subject to regulatory oversight. The initiative is intended to improve efficiency in cross-border payments, particularly in areas such as remittances and foreign exchange settlements.
The signing of the MoU coincided with a visit to Pakistan by Zach Witkoff, co-founder and chief executive of World Liberty Financial and chief executive of SC Financial Technologies. Witkoff is the son of US special envoy Steve Witkoff and has been actively involved in expanding World Liberty’s international engagements. During his visit, he met with senior Pakistani stakeholders to discuss digital payment systems, cross-border settlement processes, and evolving foreign exchange mechanisms, according to official statements.
Documentation related to the USD1 stablecoin’s reserves from July 2025 shows that SC Financial Technologies co-owns the USD1 brand alongside World Liberty Financial. The stablecoin is designed to be pegged to the US dollar, a structure that has made stablecoins increasingly attractive for international payments due to their potential to reduce transaction costs and settlement times.
Commenting on the development, Finance Minister Muhammad Aurangzeb said Pakistan aims to remain proactive in responding to global shifts in financial technology. He stated that the government’s approach is to engage with credible international players, understand new financial models, and ensure that innovation is aligned with regulation, financial stability, and national interest.
Stablecoins have grown rapidly in recent years, driven by demand for faster and more efficient digital payment solutions. Under President Trump, the United States has introduced federal rules widely viewed as supportive of the digital asset sector, prompting countries around the world to assess how stablecoins could be incorporated into their financial systems.
World Liberty Financial has also been linked to a sharp rise in income for the Trump family business, the Trump Organisation, including revenue from foreign entities, according to a Reuters report published in October. In another notable transaction last year, MGX, a state-controlled investment firm from Abu Dhabi, used the World Liberty stablecoin to acquire a USD 2 billion equity stake in Binance, the world’s largest cryptocurrency exchange.
Pakistan’s interest in digital currency initiatives is driven by efforts to reduce cash usage and improve cross-border payment efficiency, particularly for remittances, which remain a critical source of foreign exchange for the country. The governor of Pakistan’s central bank said in July that preparations were underway to launch a pilot for a digital currency and that legislation to regulate virtual assets was being finalized.
With this latest agreement, Pakistan is positioning itself as an early mover among emerging markets exploring regulated stablecoin use. The initiative reflects a broader strategy to modernize the country’s payment systems while maintaining regulatory control, as digital assets continue to reshape the global financial landscape.
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