Exclusive: Pakistan to partner with affiliate of Trump family's World Liberty Financial on USD1 stablecoin
Pakistan signs deal with World Liberty affiliate SC Financial Technologies
Deal will explore 'emerging digital payment architecture'
World Liberty CEO Zach Witkoff in Pakistan for talks
Central bank plans digital currency pilot, virtual asset regulation
ISLAMABAD, Jan 14 (Reuters) - Pakistan said on Wednesday it had signed an agreement with a firm connected to World Liberty Financial, the main crypto business of U.S. President Donald Trump's family, to explore using World Liberty’s USD1 stablecoin for cross-border payments.
The Pakistan Virtual Asset Regulatory Authority said in a statement that a memorandum of understanding with SC Financial Technologies, a little-known company it described as an "affiliated entity" of World Liberty, would enable "dialogue and technical understanding around emerging digital payment architectures."
The announcement represents one of the first publicly announced tie-ups linking 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.
Reuters was the first to report that the deal had been signed ahead of the regulator's announcement.
Under the agreement, SC Financial Technologies 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, a source involved in the deal said.
WORLD LIBERTY CEO VISITS PAKISTAN
The memorandum was announced during a visit to Pakistan by World Liberty co-founder and chief executive Zach Witkoff, who is the son of U.S. special envoy Steve Witkoff.
A government photograph showed Finance Minister Muhammad Aurangzeb and Witkoff signing the agreement, with Prime Minister Shehbaz Sharif and army chief General Asim Munir standing behind them.
