The Pakistan Virtual Asset Regulatory Authority (PVARA) announced a memorandum of understanding with SC Financial Technologies, an entity associated with World Liberty, to foster dialogue and understanding of emerging digital payment systems.
This marks one of the first public collaborations between World Liberty, a crypto platform launched in 2024, and a sovereign nation, reflecting warming ties between Pakistan and the United States.
Under the agreement, SC Financial Technologies will work with Pakistan’s central bank to integrate the USD1 stablecoin into the nation’s digital payments framework, as revealed by sources involved in the deal.
The memorandum was signed during a visit by Zach Witkoff, CEO of World Liberty and SC Financial Technologies, who met with key Pakistani figures to discuss digital payment infrastructures and foreign exchange processes.
Finance Minister Muhammad Aurangzeb emphasized the importance of engaging with global players and aligning innovation with regulation and national interests.
Stablecoins, pegged to the dollar, have seen significant growth, with the US introducing supportive federal rules under Trump. Countries worldwide are examining stablecoins’ role in financial systems.
World Liberty has significantly boosted the Trump Organization’s income, especially from foreign entities. In May, Abu Dhabi’s MGX used World Liberty’s stablecoin for a $2 billion stake in Binance.
Pakistan is actively exploring digital currency projects to enhance cross-border payments and reduce cash usage, with plans to launch a digital currency pilot and regulate virtual assets.
