Islamabad (Web Desk): Pakistan has formalized a partnership with SC Financial Technologies, a subsidiary of World Liberty Financial, to explore the possibility of utilizing a US dollar-pegged stablecoin for facilitating cross-border transactions.
The Memorandum of Understanding (MoU) was signed by Finance Minister Muhammad Aurangzeb and Zachary Witkoff, CEO of World Liberty Financial, during a ceremony witnessed by Prime Minister Shehbaz Sharif, Deputy Prime Minister Ishaq Dar, Chief of Defence Forces (CDF), and Chief of Army Staff (COAS) Field Marshal Syed Asim Munir.
The Pakistan Virtual Asset Regulatory Authority (PVARA) confirmed that the agreement will foster dialogue and technical collaboration on innovative digital payment solutions. The signing event was highlighted on social media by World Liberty Financial, which emphasized Pakistan’s growing importance as a hub for digital asset adoption.
This marks one of the earliest public collaborations between World Liberty Financial, which launched its cryptocurrency-based financial platform in 2024, and a sovereign state. The partnership also underscores the strengthening ties between Pakistan and the United States in both economic and diplomatic spheres.
As part of the deal, SC Financial Technologies will work closely with Pakistan’s central bank to examine the potential integration of the USD1 stablecoin into Pakistan’s regulated digital payments framework. Insiders suggest that the stablecoin would complement Pakistan’s own digital currency infrastructure, enhancing the country’s broader financial ecosystem.
The announcement followed a visit by Zachary Witkoff, co-founder and CEO of both World Liberty Financial and SC Financial Technologies, who met with senior Pakistani officials to discuss the future of digital payment systems, cross-border transactions, and foreign exchange operations.
Finance Minister Muhammad Aurangzeb reaffirmed Pakistan’s commitment to leading the way in financial innovation, stressing that while embracing emerging technologies, the government would ensure that new models align with national regulations, economic stability, and public interests.
Documents from July 2025 indicate that SC Financial Technologies, registered in Delaware, co-owns the USD1 stablecoin alongside World Liberty Financial. Stablecoins, which are digital tokens typically tied to the value of the US dollar, have seen rapid adoption and are increasingly considered an essential part of modern financial systems.
As the US has begun rolling out supportive federal regulations for the crypto sector, other countries, including Pakistan, are evaluating how stablecoins can enhance and modernize their payment infrastructures.
Pakistan has shown an increasing interest in digital currency solutions to reduce reliance on cash and improve efficiency in cross-border payments, particularly with regard to remittances, a crucial source of foreign exchange for the country.
Earlier this year, the governor of Pakistan’s central bank announced plans to pilot a digital currency and is finalizing legislation for the regulation of virtual assets in the country.
Before the signing, a delegation from World Liberty Financial USA, led by CEO Zachary Witkoff, met Prime Minister Shehbaz Sharif in Islamabad to discuss the country’s vision for digital payments.
The Prime Minister highlighted the importance of digital financial innovation as a key driver of Pakistan’s expanding digital economy. He shared his vision of a “Digital Pakistan” aimed at improving connectivity, transparency, and access for all citizens, noting with satisfaction the growing global interest in Pakistan’s digital financial markets.
Witkoff expressed enthusiasm for further collaboration with Pakistan, particularly in developing secure and transparent payment systems, as well as innovations in cross-border transactions and foreign exchange. He commended Pakistan’s forward-thinking policies, which he believes position the country as a major player in the global digital finance landscape.
