In a significant development for Pakistan’s digital finance landscape, the government has formalized a partnership with World Liberty Financial (WLFI), a decentralized platform connected to the family of former U.S. President Donald Trump, to investigate the use of stablecoins for cross-border transactions.
The Pakistan Virtual Assets Regulatory Authority, tasked with overseeing virtual asset regulations in the country, shared via a public announcement on X that World Liberty Financial signed a Memorandum of Understanding (MoU) with the Ministry of Finance. This agreement's purpose is to jointly explore advancements in digital financial services, with a notable emphasis on employing stablecoins to facilitate cross-border payments.
Zach Witkoff, the co-founder and Chief Executive Officer of World Liberty Financial, conducted an official visit to Pakistan. During his trip, he engaged in discussions with key government figures, including Prime Minister Shehbaz Sharif, highlighting high-level interest and collaboration on this digital currency initiative.
World Liberty Financial currently offers a dollar-pegged stablecoin named World Liberty Financial USD (USD1). This digital asset has amassed a market capitalization valued at approximately $3.43 billion. The involvement of the Trump family is substantial; Donald Trump is designated as Co-Founder Emeritus of the platform, while his sons Eric Trump, Donald Trump Jr., and Barron Trump hold positions as co-founders. This structure entwines the political figure's family deeply with the crypto venture’s leadership and development.
Pakistan’s move to partner with World Liberty Financial comes amid an escalating domestic focus on digital assets. Last December, the nation provided a no-objection certificate to a cryptocurrency exchange financed by billionaire investor Justin Sun, signaling regulatory openness to emerging crypto businesses. Moreover, the country has enlisted Binance co-founder Changpeng Zhao as a strategic advisor to the Pakistan Crypto Council. This council, sanctioned by the government, is charged with promoting the adoption and regulation of blockchains and digital asset technologies within national frameworks.
Further emphasizing Pakistan’s engagement with cryptocurrency, the government disclosed plans to create a strategic reserve of Bitcoin (BTC) last year. Inspired by public figures such as Donald Trump, the administration’s cryptocurrency advisor has affirmed that the government will hold Bitcoin in a national wallet with an expressed intent to refrain from selling these holdings, underscoring a commitment to maintain cryptocurrency assets as part of national financial strategy.
Regarding market dynamics, at the time of reporting, the WLFI token was trading at around $0.1700, showing a decrease of 7.61% over the prior 24 hours, based on information obtained from Benzinga Pro. This price movement serves as an indicator of investor sentiment and market activity surrounding the platform’s digital asset.
Overall, this partnership between Pakistan’s Ministry of Finance and World Liberty Financial marks a notable step in the country’s digital asset strategy, aligning government initiatives with emerging crypto technologies and global financial trends.