ISLAMABAD: Pakistan has signed a memorandum of understanding (MoU) with SC Financial Technologies LLC, an affiliate of World Liberty Financial, to explore the use of stablecoin-based solutions for cross-border transactions, officials said on Wednesday.
According to the Pakistan Virtual Asset Regulatory Authority (PVARA), the MoU aims to facilitate dialogue and develop technical understanding around emerging digital payment systems, including next-generation cross-border settlement and foreign exchange mechanisms.
The agreement was signed during the visit of Zach Witkoff, co-founder and CEO of World Liberty Financial and son of US Special Envoy Steve Witkoff, who met senior Pakistani officials to discuss secure, compliant, and transparent digital finance infrastructure.
PVARA said Pakistan is positioning itself as a key emerging player in global digital finance, with World Liberty Financial’s engagement indicating strong interest in evaluating Pakistan as a potential early-stage partner for innovative payment models, including its stablecoin USD1.
Finance Minister Muhammad Aurangzeb said Pakistan is focused on staying ahead of financial innovation by collaborating with credible global partners while ensuring alignment with regulatory stability and national interests.
The development builds on earlier cooperation between Pakistan and World Liberty Financial, including a Letter of Intent signed in April with the Pakistan Crypto Council, aimed at promoting knowledge-sharing in emerging financial technologies.
In recent months, PVARA also issued No Objection Certificates (NOCs) to global crypto platforms Binance and HTX, enabling them to begin local incorporation. The authority highlighted that approvals were granted in under five months—faster than many global jurisdictions.
Officials noted that Pakistan’s growing digital economy, strong regulatory momentum, and large crypto user base are drawing sustained international interest, positioning the country as a frontier market to watch in the evolution of global digital finance.