Pakistan Taps Trump-Linked Crypto Firm to Explore Dollar Stablecoin Payments
Pakistan has signed an agreement with a company linked to World Liberty Financial — the main crypto venture associated with US President Donald Trump’s family — to explore the use of a dollar-pegged stablecoin for cross-border payments.
The Pakistan Virtual Asset Regulatory Authority (PVARA) said on Wednesday that it had entered into a memorandum of understanding with SC Financial Technologies, a little-known firm it described as an “affiliated entity” of World Liberty. The agreement aims to enable “dialogue and technical understanding around emerging digital payment architectures”.
The move marks one of the first publicly disclosed partnerships between World Liberty, a crypto-based financial platform launched in September 2024, and a sovereign state. It also comes as relations between Pakistan and the United States show signs of warming.
Under the arrangement, SC Financial Technologies will work with Pakistan’s central bank to explore integrating its USD1 stablecoin into a regulated digital payments framework. This would allow the token to function alongside Pakistan’s own digital currency infrastructure, according to a source familiar with the deal.
World Liberty CEO visits Pakistan
The memorandum was announced during a visit to Pakistan by Zach Witkoff, co-founder and chief executive of World Liberty and son of US special envoy Steve Witkoff. Witkoff also serves as CEO of SC Financial Technologies.
SC Financial Technologies, which is registered in Delaware, co-owns the USD1 stablecoin brand with World Liberty, according to documentation on the stablecoin’s reserves dated July 2025.
During the visit, Witkoff met 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. Under President Trump, the United States has introduced federal regulations widely viewed as supportive of the sector, while governments worldwide are examining the potential role of stablecoins in payments and financial systems.
World Liberty has contributed to a sharp rise in income for the Trump family business, the Trump Organisation, including from foreign entities, Reuters reported in October. In May, Abu Dhabi state-backed investment firm MGX used the World Liberty stablecoin to acquire a $2 billion equity stake in Binance, the world’s largest cryptocurrency exchange.
Pakistan has been exploring digital currency initiatives as it seeks to curb cash usage and improve cross-border payments such as remittances, a critical source of foreign exchange. The country’s central bank governor said in July that a pilot for a digital currency is being prepared and that legislation to regulate virtual assets is nearing completion.
