Key Points
- Pakistan signs MoU with World Liberty Financial affiliate on digital payments
- WLF is the main crypto business of the family of US President Donald Trump
- Sources say USD1 stablecoin integration with the central bank framework is under discussion
- The move aligns with Pakistan’s push for digital currency and virtual asset regulation
ISLAMABAD: Pakistan has signed a memorandum of understanding with SC Financial Technologies LLC, an affiliate of World Liberty Financial USA, to collaborate on next-generation digital payment systems and cross-border financial innovation here on Wednesday.
World Liberty Financial is a crypto business linked with the family of United States President Donald Trump. The agreement marks one of the first publicly announced partnerships between the crypto-based platform, launched in September 2024, and a sovereign state. It also comes amid improving economic engagement between Islamabad and Washington.
According to sources cited earlier by Reuters, the agreement provides the framework for World Liberty Financial’s collaboration with Pakistan’s central bank to integrate its USD1 stablecoin into a regulated digital payments structure. The arrangement would allow the privately issued, dollar-pegged digital token to operate alongside Pakistan’s planned digital currency infrastructure under regulatory oversight.
Finance Minister Muhammad Aurangzeb signed the MOU on behalf of Pakistan, and World Liberty Financial’s Chief Executive Zachary Witkoff inked the document for the US firm. Prime Minister Muhammad Shehbaz Sharif and Chief of Defence Forces and Chief of the Army Staff Field Marshal Syed Asim Munir graced the signing ceremony.
A government statement said the MoU aims to enable structured dialogue and technical understanding regarding emerging digital payment architectures for cross-border transactions, including settlement systems and financial interoperability.
The development followed a meeting in Islamabad between Prime Minister Shehbaz Sharif and a delegation of World Liberty Financial USA led by Witkoff. Deputy Prime Minister Mohammad Ishaq Dar, Finance Minister Aurangzeb, Special Assistant to the Prime Minister Syed Tariq Fatemi, and Chairman of the Pakistan Virtual Assets Regulatory Authority Bilal Bin Saqib were also present.
During the meeting, the Prime Minister outlined his vision for a digital Pakistan, focused on connectivity, access, transparency and openness. He said the rapid growth of digital payments and financial innovation forms a core pillar of the country’s expanding digital economy and welcomed rising international interest in Pakistan’s digital financial markets.
Witkoff expressed interest in engaging with Pakistan on building a secure and transparent digital payment infrastructure, including innovations in cross-border settlement and foreign exchange processes. He praised Pakistan’s emerging policy framework, stating it was helping position the country as a contender in the global digital finance landscape, according to the statement.
World Liberty Financial has drawn international attention for its expanding footprint. Reuters reported in October that the platform contributed to a sharp increase in income for the Trump family business in the first half of last year, including revenue linked to foreign entities. In May, MGX, a state-controlled Abu Dhabi investment company, used a World Liberty stablecoin to acquire a $2 billion equity stake in Binance, the world’s largest cryptocurrency exchange.
Pakistan has been exploring digital currency initiatives as part of efforts to reduce cash usage and improve cross-border payments, particularly remittances, a major source of foreign exchange. The central bank governor said in July that Pakistan was preparing to launch a pilot for a central bank digital currency and was finalising legislation to regulate virtual assets.
