Pakistan Signs Deal With Trump-Linked World Liberty Firm For USD1 Stablecoin

Pakistan has announced a tie-up with a firm connected to World Liberty Financial, the crypto platform associated with U.S. President Donald Trump’s family, to examine the use of a U.S. dollar–denominated stablecoin for cross-border transactions.

According to Reuters, the Pakistan Virtual Asset Regulatory Authority (PVARA) said it has signed a memorandum of understanding with SC Financial Technologies, an affiliated company of World Liberty Financial. The agreement is intended to enable discussions and technical understanding of emerging digital payment systems.

The deal is one of the first publicly announced collaborations between a sovereign state and World Liberty Financial, a crypto-based finance platform launched in September 2024, and comes amid warming ties between Pakistan and the United States.

SC Financial Technologies will work with Pakistan’s central bank to introduce its USD1 stablecoin into the country’s regulated digital payment system. This setup will allow the stablecoin to operate alongside Pakistan’s existing digital currency framework, a source familiar with the agreement told Reuters.

The announcement came during a visit by Zach Witkoff, co-founder and CEO of World Liberty Financial and son of U.S. special envoy Steve Witkoff. During the signing, Finance Minister Muhammad Aurangzeb was present along with Prime Minister Shehbaz Sharif and Army Chief General Asim Munir. The broader delegation included Pakistan’s intelligence chief Lieutenant General Muhammad Asim Malik, crypto regulator Bilal bin Saqib, and World Liberty co-founders Zak Folkman and Chase Herro.

Witkoff also heads SC Financial Technologies, a Delaware-based company that co-owns the USD1 stablecoin with World Liberty Financial.

David Wachsman, a spokesperson for World Liberty Financial, told Reuters that the collaboration with Pakistan could help maintain the U.S. dollar’s role as the world’s reserve currency. The country is exploring the use of a regulated, U.S. dollar-backed stablecoin for digital payments and international money transfers.

Reports indicate that the Trump family owns 60 per cent of World Liberty Financial and is entitled to 75 per cent of the revenue generated from its token sales.