ISLAMABAD: The Government of Pakistan and SC Financial Technologies LLC, an affiliate of World Liberty Financial USA (WLF), on Wednesday signed a memorandum of understanding (MoU) to promote collaboration on next-generation digital payment systems and cross-border financial innovations. WLF, the main crypto business of US President Donald Trump’s family, recently launched a crypto-based finance platform in September 2024.
The MoU represents one of the first publicly announced partnerships between WLF and a sovereign state and comes amid a warming of bilateral ties between Pakistan and the United States. Under the agreement, WLF will work with Pakistan’s central bank to integrate its USD1 stablecoin into a regulated digital payments structure, enabling it to operate alongside Pakistan’s existing digital currency infrastructure.
Prime Minister Muhammad Shehbaz Sharif and Chief of Defence Forces/COAS Field Marshal Syed Asim Munir witnessed the signing, which aims to “enable structured dialogue and technical understanding around emerging digital payment architectures for cross-border transactions,” according to a government statement. Finance Minister Muhammad Aurangzeb and WLF CEO Zachary Witkoff signed the MoU on behalf of their respective organisations.
During the meeting, Witkoff expressed keen interest in developing a secure and transparent digital payment ecosystem in Pakistan, including innovations in cross-border settlements and foreign exchange processes. He praised Pakistan’s policy framework for positioning the country as a leading contender in global digital finance and highlighted WLF’s desire to deepen engagement for next-generation financial technologies.
Prime Minister Shehbaz underscored the importance of digital finance in expanding Pakistan’s economy, improving connectivity, access, transparency, and openness for citizens. He welcomed the growing international interest in Pakistan’s digital financial markets and said the country is fast becoming an integral part of the global digital finance landscape.
Deputy Prime Minister Mohammad Ishaq Dar, SAPM Syed Tariq Fatemi, Chairman Pakistan Virtual Assets Regulatory Authority Bilal Bin Saqib, and other senior officials were also present during the delegation’s visit.
The development comes as Pakistan explores digital currency projects to reduce cash usage and enhance cross-border payments such as remittances, a key source of foreign exchange. The central bank is preparing a pilot for digital currency and finalising legislation to regulate virtual assets.
WLF has previously fuelled significant income growth for the Trump family business, including from foreign entities, and was involved in a $2 billion Binance equity stake acquisition through its stablecoin last year.