Pakistan has signed a memorandum of understanding (MoU) with a firm affiliated with World Liberty Financial (WLF) the crypto venture backed by the family of U.S. President Donald Trump to explore using its stablecoin for cross-border payments.
The agreement, signed Wednesday between Pakistan’s Ministry of Finance and SC Financial Technologies LLC, marks one of the first sovereign partnerships for the platform since its September 2024 launch.
According to a statement from the Pakistan Virtual Asset Regulatory Authority (PVARA), the deal establishes a framework to “explore the potential use of World Liberty Financial’s USD1 stablecoin for international transactions,” specifically targeting the country’s massive remittance market.
Pakistan Finance Minister Muhammad Aurangzeb, who oversaw the signing during a visit by WLF CEO Zach Witkoff, emphasized the need to align innovation with national financial stability.
“Our focus is to stay ahead of the curve by engaging with credible global players,” Aurangzeb said in the official statement. “Pakistan recognizes that the future of finance is being shaped today.”
SC Financial Technologies, the entity executing the deal, is a reported affiliate of World Liberty Financial, which has previously utilized its stablecoin infrastructure for major institutional deals, including a high-profile equity acquisition in Binance by Abu Dhabi’s MGX last year.