Finance Minister says digital innovation will be pursued in accordance with regulations 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 firm linked to US President Donald Trump’s family, to explore the use of a stable currency linked to the dollar for cross-border payments, the government announced on Wednesday.
Pakistan’s Virtual Assets Regulatory Authority said it signed a memorandum of understanding with SC Financial Technologies, which it described as an affiliated entity of World Liberty Financial. The agreement will enable dialogue and technical engagement around “emerging digital payment architectures”.
Today, World Liberty Financial signed a memorandum of understanding 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
– Virtual Assets Regulatory Authority of Pakistan (@PakistanVARA) January 14, 2026
This development marks one of the first publicly announced partnerships between World Liberty Financial, a crypto-based financial platform launching in September 2024, and a sovereign state. This also comes amid warming relations between Pakistan and the United States.
Read: Billion-dollar digital fraud: call for effective cyber governance
As part of the deal, SC Financial Technologies will work with Pakistan’s central bank to explore integrating its $1 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 managing director of World Liberty Financial and managing director of SC Financial Technologies. Witkoff is the son of US special envoy Steve Witkoff.
According to the regulator, Witkoff met with senior Pakistani officials to discuss digital payments infrastructure, cross-border settlement and foreign exchange processes.
“Our aim 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.
Learn more: “Is this legit?” » to combat AI deception
SC Financial Technologies, registered in Delaware, co-owns the USD1 stablecoin brand with World Liberty Financial, according to the token’s July 2025 reserves documentation.
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 rules widely seen as favorable to the crypto sector, while countries around the world evaluate the role of stablecoins in payment systems.
Pakistan is exploring digital currency initiatives in a bid to reduce the use of cash 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 digital currency pilot project and finalize legislation to regulate virtual assets.
