Islamabad, January 14,2026: Pakistan on Wednesday announced it has signed an agreement with a firm linked to World Liberty Financial — the main cryptocurrency venture associated with the family of US President Donald Trump — to explore the use of a dollar-backed stablecoin for cross-border payments.
In a statement, the Pakistan Virtual Asset Regulatory Authority (PVARA) said it had signed a memorandum of understanding (MoU) with SC Financial Technologies, a company it described as an “affiliated entity” of World Liberty Financial. The agreement aims to facilitate dialogue and technical cooperation on emerging digital payment systems.
The development marks one of the first publicly disclosed engagements between World Liberty Financial, a crypto-based financial platform launched in September 2024, and a sovereign state. The announcement also comes amid signs of improving relations between Pakistan and the United States.
According to a source involved in the deal, SC Financial Technologies will work with the State Bank of Pakistan to explore the integration of its USD1 stablecoin into a regulated digital payments framework. The initiative would allow the token to function alongside Pakistan’s developing digital currency infrastructure.
The signing of the MoU coincided with a visit to Pakistan by Zach Witkoff, co-founder and chief executive of World Liberty Financial, and son of US Special Envoy Steve Witkoff. Zach Witkoff also serves as CEO of SC Financial Technologies.
SC Financial Technologies, which is registered in Delaware, jointly owns the USD1 stablecoin brand with World Liberty Financial, according to reserve documentation dated July 2025.
During his visit, Witkoff held meetings with senior Pakistani stakeholders to discuss digital payment infrastructure, cross-border settlement mechanisms and foreign exchange processes, PVARA said.
“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.
Stablecoins — digital tokens typically pegged to the US dollar — have expanded rapidly in recent years as governments and financial institutions assess their potential role in payments and financial systems. Under President Trump, the United States has introduced federal regulations widely viewed as supportive of the crypto sector, accelerating global interest in digital assets.
World Liberty Financial has reportedly contributed to a significant rise in income for the Trump family business, the Trump Organization, including from foreign sources, during the first half of last year, according to a Reuters report published in October.
In May, MGX, a state-backed Abu Dhabi investment firm, used the World Liberty stablecoin to acquire a $2 billion equity stake in Binance, the world’s largest cryptocurrency exchange.
Pakistan has been actively exploring digital currency initiatives as part of broader efforts to reduce cash usage and improve cross-border payment systems, particularly remittances, which remain a critical source of foreign exchange for the country.
In July, the governor of the State Bank of Pakistan said the central bank was preparing to launch a pilot project for a digital currency and was in the process of finalising legislation to regulate virtual assets.
The latest agreement signals Pakistan’s growing engagement with global digital finance players as it seeks to modernise its financial infrastructure while maintaining regulatory oversight.
