Finance minister says digital innovation will be pursued in line with regulation and national interest
Finance Minister Muhammad Aurangzeb signs a memorandum of understanding with SC Financial Technologies on January 14. — Photo via X/@PakistanVARA
Pakistan has signed an agreement with a company affiliated with World Liberty Financial, the main crypto business linked to the family of US President Donald Trump, to explore the use of a dollar linked stablecoin for cross border payments, the government said on Wednesday.
The Pakistan Virtual Asset Regulatory Authority said it had signed a memorandum of understanding with SC Financial Technologies, which it described as an affiliated entity of World Liberty Financial. The agreement will allow dialogue and technical engagement around “emerging digital payment architectures”.
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. pic.twitter.com/rYzbfHYysd
— Pakistan Virtual Assets Regulatory Authority (@PakistanVARA) January 14, 2026
The development marks one of the first publicly announced partnerships between World Liberty Financial, a crypto based finance platform launched in September 2024, and a sovereign state. It also comes amid warming ties between Pakistan and the United States.
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Under the agreement, SC Financial Technologies will work with Pakistan’s central bank to explore integrating its USD1 stablecoin into a regulated digital payments framework, allowing it to operate alongside Pakistan’s own digital currency infrastructure, a source involved in the deal told Reuters.
The announcement coincided with a visit to Pakistan by Zach Witkoff, co founder and chief executive of World Liberty Financial and chief executive of SC Financial Technologies. Witkoff is the son of US special envoy Steve Witkoff.
According to the regulator, Witkoff met with senior Pakistani stakeholders to discuss digital payment infrastructure, cross border settlement and foreign exchange processes.
“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.
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SC Financial Technologies, registered in Delaware, co owns the USD1 stablecoin brand with World Liberty Financial, according to documentation on the token’s reserves from July 2025.
Stablecoins, which are digital tokens typically pegged to the US dollar, have expanded rapidly in recent years. Under President Trump, the United States has introduced federal rules widely viewed as favourable to the crypto sector, while countries globally are assessing the role of stablecoins in payment systems.
Pakistan has been exploring digital currency initiatives as it seeks to reduce cash usage and improve cross border payments, including remittances, a key source of foreign exchange. The central bank governor said in July that Pakistan was preparing to launch a pilot for a digital currency and finalising legislation to regulate virtual assets.
