Pakistan inks MoU with Trump-linked crypto firm for cross-border payments

The Ministry of Finance has signed an agreement with SC Financial Technologies LLC, an affiliate of World Liberty Financial, for the use of stablecoins for cross-border transactions.

In an X post, the Pakistan Virtual Asset Regulatory Authority said: "Today, World Liberty Financial signed an MoU with the Ministry of Finance to explore innovation in digital finance, particularly the use of stablecoins for cross-border transactions, signalling growing global interest in Pakistan as a key market for digital assets."

According to the regulator, the MoU aims to promote discussions and technical cooperation on new digital payment systems. This partnership is among the first publicly disclosed arrangements between World Liberty, a crypto finance platform launched in September 2024, and a government.

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The development also coincides with improving relations between Pakistan and the United States.

Prime Minister Shehbaz Sharif and Chief of Defence Forces (CDF) and Chief of Army Staff (COAS) Field Marshal Asim Munir also witnessed the signing ceremony.

As part of the understanding, SC Financial Technologies will coordinate with Pakistan’s central bank on incorporating its USD1 stablecoin into a regulated digital payments framework. The token is expected to function alongside Pakistan’s existing digital currency infrastructure.

The MoU was announced during a visit to Pakistan by Zach Witkoff, who serves as co-founder and chief executive of World Liberty. He is also the CEO of SC Financial Technologies.

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