Finance minister says digital innovation will be pursued in line with regulation and national interest
Finance Minister Muhammad Aurangzeb signs an MoU with SC Financial Technologies on January 14. — Photo via X/@PakistanVARA
Pakistan has signed an agreement with a company associated with World Liberty Financial, the main crypto business linked to US President Donald Trump’s family, 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 affiliate of World Liberty Financial. The agreement will allow dialogue and technical engagement around “new 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, signaling growing global interest in Pakistan as a key market for digital assets. pic.twitter.com/rYzbfHYysd
— Pakistan Virtual Assets Regulatory Authority (@PakistanVARA) 14 January 2026
The development marks one of the first publicly announced partnerships between World Liberty Financial, a crypto-based financing platform launched in September 2024, and a sovereign state. It also comes amid warming ties between Pakistan and the US.
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Under the deal, SC Financial Technologies will work with Pakistan’s central bank to explore the integration of its USD1 stablecoin into a regulated digital payments framework so it can 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 CEO of World Liberty Financial and CEO 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 be at the forefront of engaging with credible global players, understanding new financial models and ensuring that innovation where explored is consistent with regulation, stability and national interest,” Finance Minister Muhammad Aurangzeb said.
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Delaware-registered SC Financial Technologies co-owns the USD1 stablecoin token with World Liberty Financial, according to documentation on the token’s reserves as of July 2025.
Stablecoins, which are digital tokens typically pegged to the US dollar, have grown rapidly in recent years. Under President Trump, the United States has introduced federal regulations widely seen as favorable to the crypto sector, while countries globally are evaluating 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, an important source of foreign exchange. The central bank chief said in July that Pakistan was preparing to launch a pilot project for a digital currency and finalize legislation to regulate virtual assets.
