Pakistan is reportedly preparing to partner with World Liberty Financial on a dollar-pegged stable cryptocurrency project. According to a source familiar with the matter, Pakistan has signed an agreement with a company linked to World Liberty Financial, the main crypto venture of US President Donald Trump’s family, to evaluate World Liberty’s stable cryptocurrency for use in cross-border payments.
First Sovereign State Collaboration for World Liberty Financial
This agreement marks one of the first collaborations announced between a sovereign state and World Liberty Financial, a crypto-based financial platform founded in September 2024. It is also noteworthy that it comes at a time when relations between Pakistan and the US are gaining renewed momentum.
Integration with Pakistan's Digital Payment Infrastructure
Under the agreement, World Liberty Financial plans to work with the Reserve Bank of Pakistan to integrate the USD1 dollar-pegged stable cryptocurrency into a regulated digital payment infrastructure. This will allow the token to be used with Pakistan’s own digital currency and payment systems. The source noted that details regarding the agreement with SC Financial Technologies, a company affiliated with World Liberty, have not yet been released.
Pakistan is expected to officially announce the agreement during World Liberty CEO Zach Witkoff’s visit to Islamabad. The Pakistani Ministry of Finance and the Central Bank have yet to make an official statement on the matter.
Global Trend Towards Stablecoins
The rapid global growth of dollar-pegged stable cryptocurrencies in recent years has prompted many countries to re-evaluate the role of these assets in their payment systems. The introduction of regulations supporting stable cryptocurrencies in the US during the Trump administration also gave impetus to the sector.
Pakistan's Digital Currency Ambitions
Pakistan is actively exploring digital currency projects with the aim of reducing cash usage and making international remittances, which are critical to the country’s economy, more efficient. In July, the Governor of the Reserve Bank of Pakistan announced that a pilot study for digital currency was being prepared and that the legal framework to regulate virtual assets was in its final stages.