Pakistan signed an agreement with World Liberty Financial, a crypto company connected to U.S. President Donald Trump’s family, to pilot its stablecoin for cross-border payments.
The Pakistan Virtual Asset Regulatory Authority (PVARA) said in a statement that the memorandum of understanding with SC Financial Technologies — described as an “affiliated entity” of World Liberty — aims to facilitate discussions on digital payment infrastructure and emerging settlement technologies.
The deal marks one of the first publicly disclosed engagements between World Liberty, launched in September 2024, and a sovereign government. It also comes as relations between Pakistan and the United States continue to improve.
According to DAWN News, under the agreement, SC Financial Technologies will work with Pakistan’s central bank to develop a framework for integrating its USD1 stablecoin into regulated digital payment channels, allowing the token to operate alongside Pakistan’s evolving digital currency infrastructure, according to a person familiar with the matter.
The announcement coincided with a visit to Pakistan by Zach Witkoff, co-founder and chief executive of World Liberty. Witkoff, also CEO of SC Financial Technologies, met with senior government and financial officials to discuss digital payments, cross-border settlement and foreign exchange systems. Documents from July 2025 show SC Financial co-owns the USD1 stablecoin brand with World Liberty.
“Our focus is to stay ahead of the curve by engaging with credible global players, understanding new financial models, and ensuring that innovation, where explored, is aligned with regulation, stability and national interest,” Finance Minister Muhammad Aurangzeb said.
Pakistan’s federal government separately posted on X that a World Liberty delegation met Prime Minister Shehbaz Sharif, who emphasized his administration’s Digital Pakistan agenda and highlighted digital payments as a tool for transparency and economic growth. The prime minister also noted rising foreign interest in Pakistan’s financial technology market.
Stablecoins — cryptocurrencies typically backed by U.S. dollars or equivalent reserves — have expanded rapidly as governments assess their potential role in financial systems. Under Trump, the United States introduced federal rules that industry executives have said are favorable to digital assets, prompting other countries to evaluate stablecoin-based payment infrastructure.
World Liberty has already been tied to major transactions, including a $2 billion acquisition of Binance equity by Abu Dhabi investor MGX using the USD1 token, Reuters reported. The platform also contributed to a significant increase in revenues for the Trump family’s business in the first half of last year.
Pakistan meanwhile is developing its own digital currency initiatives to reduce cash reliance and streamline remittance flows, a major source of foreign exchange. The central bank governor said in July that Pakistan plans to launch a digital currency pilot and finalize legislation for virtual asset regulation.
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