Pakistan on Wednesday signed a memorandum of understanding (MoU) with SC Financial Technologies LLC, an affiliate of World Liberty Financial, to explore using Liberty’s stablecoin for cross-border transactions.
In a statement, the Pakistan Virtual Asset Regulatory Authority (PVARA) said the MoU would “explore innovation in digital finance, particularly the use of stablecoins for cross-border transactions, signaling growing global interest in Pakistan as a key market for digital assets.” Finance Minister Muhammad Aurangzeb signed the MoU on Pakistan’s behalf, while World Liberty Financial CEO Zachary Witkoff represented his firm.
A separate statement issued by the Prime Minister’s Office said the MoU was signed after a meeting in Islamabad between P.M. Shehbaz Sharif and a delegation of World Liberty Financial, led by Witkoff.
During his meeting with senior Pakistani stakeholders, Witkoff discussed how countries are approaching secure, compliant, and transparent digital payment infrastructure, including innovations in cross-border settlement and foreign exchange processes. He lauded Pakistan’s policy framework and expressed a keen desire to further deepen engagement with the country to explore next-generation digital payment and cross-border finance innovations.
“Pakistan is rapidly positioning itself as a serious contender in the global digital finance landscape, as World Liberty Financial deepens its engagement with the country to explore next-generation digital payment and cross-border finance innovations,” said PVARA.
Deputy Prime Minister Ishaq Dar, Chief of Defense Forces and Chief of the Army Staff Field Marshal Asim Munir, Finance Minister Muhammad Aurangzeb, and PVARA Chairman Bilal bin Saqib were among the Pakistani officials who attended the meeting.
Welcoming the delegation, the prime minister shared his vision for a digital Pakistan aimed at increased connectivity, access, transparency and openness for citizens. He said the rapidly growing pace of digital payments and financial innovation are essential parts of Pakistan’s rapidly expanding digital economy. He also appreciated the growing international interest in Pakistan’s digital financial markets and noted with satisfaction that Pakistan is fast becoming part of global digital finance.
The PVARA statement said World Liberty Financial’s second engagement with Pakistan was being seen as a strong indication that the country is being actively evaluated as a potential early-stage partner jurisdiction for exploring new digital payment models, including its stablecoin USD1. “Pakistan recognizes that the future of finance is being shaped today. 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,” said the finance minister.
In April 2025, World Liberty Financial had signed a Letter of Intent with the Pakistan Crypto Council, led by CEO Bilal bin Saqib, laying the groundwork for knowledge-sharing and ecosystem-level dialogue around emerging financial technologies.
“Pakistan is emerging as one of the most compelling frontier markets for digital payments and financial innovation, driven by over $38 billion in annual remittance inflows, a rapidly growing digital economy, an estimated 40 million crypto users, and industry estimates of up to $300 billion in annual trading volume, placing the country among the largest digital asset user bases globally,” said PVARA.