Pakistan Signs Deal with Trump Family-linked Crypto firm

Pakistan said on Wednesday it had signed an agreement with a firm connected to World Liberty Financial, the main crypto business of US President Donald Trump’s family, to explore using World Liberty’s $1 stablecoin for cross-border payments.

The Pakistan Virtual Asset Regulatory Authority (PVARA) said in a statement that a memorandum of understanding with SC Financial Technologies, a little-known company it described as an “affiliated entity” of World Liberty, would enable “dialogue and technical understanding around emerging digital payment architectures.”

The announcement represents one of the first publicly announced tie-ups between World Liberty, a crypto-based finance platform launched in September 2024, and a sovereign state. It also comes amid a warming of ties between Pakistan and the United States.

Reuters was the first to report that the deal had been signed ahead of the regulator’s announcement.

Under the agreement, SC Financial Technologies will work with Pakistan’s central bank to integrate its $1 stablecoin into a regulated digital payments structure, allowing the token to operate alongside Pakistan’s own digital currency infrastructure, a source involved in the deal said.

The memorandum was announced during a visit to Pakistan by World Liberty’s co-founder and chief executive Zach Witkoff, who is the son of US special envoy Steve Witkoff.

A government photograph showed Finance Minister Muhammad Aurangzeb and Witkoff signing the agreement, with Prime Minister Shehbaz Sharif and COAS CDF General Asim Munir standing behind them.

Witkoff is also the CEO of SC Financial Technologies. The company, registered in Delaware, co-owns with World Liberty the $1 stablecoin brand, according to documentation on the stablecoin’s reserves from July 2025.

World Liberty did not immediately respond to a request for comment on the visit and tie-up. “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 Finance Minister Aurangzeb. Stablecoins – digital tokens typically pegged to the dollar – have ballooned in value in recent years.

Under Trump, the United States has introduced federal rules widely seen as beneficial to the sector, and countries across the world are beginning to examine the potential role of stablecoins in payments and financial systems.

World Liberty has fuelled a sharp increase in income for the Trump family business, known as the Trump Organization, including from foreign entities, in the first half of last year, Reuters reported in October. Last May, MGX, a state-controlled Abu Dhabi investment company, used the World Liberty stablecoin to buy a $2 billion equity stake in Binance, the world’s largest crypto exchange.

Meanwhile, a delegation of World Liberty Financial USA, led by Zachary Witkoff, called on PM Shehbaz Sharif in Islamabad on Wednesday.

Deputy Prime Minister Ishaq Dar, Chief of Defence Forces and Chief of the Army Staff Field Marshal Asim Munir, Minister for Finance Muhammad Aurangzeb, SAPM Tariq Fatemi, and Chairman Pakistan Virtual Assets Regulatory Authority Bilal Bin Saqib also attended the meeting.

Welcoming the delegation, the PM shared his vision for digital Pakistan aimed at increased connectivity, access, transparency and openness for the citizens. He said the rapidly growing pace of digital payments and financial innovation are essential parts of Pakistan’s rapidly expanding digital economy.

The PM appreciated the growing international interest in Pakistan’s digital financial markets and noted with deep sense of satisfaction that Pakistan is fast becoming part of global digital finance.