Pakistan Explores Stablecoin Payments Deal
1️⃣ What’s Happening:
Pakistan has signed an exploratory agreement with SC Financial Technologies, a company linked to Trump-backed World Liberty Financial, to assess the use of its USD1 stablecoin for payments.
2️⃣ Purpose of the Deal:
The agreement will evaluate whether USD1, a dollar-pegged stablecoin, can be integrated into Pakistan’s digital payments framework, particularly for cross-border transactions and remittances.
3️⃣ Why It Matters:
Stablecoins can offer:
Faster settlement
Lower transaction costs
24/7 cross-border payments
This could significantly improve Pakistan’s remittance and payment infrastructure.
4️⃣ Official Announcement Expected:
Pakistan is expected to formally announce the deal during a visit by World Liberty CEO Zach Witkoff to Islamabad.
5️⃣ USD1 Stablecoin Background:
Market cap: ~$3.4 billion
Previously used in a $2B Binance equity transaction by Abu Dhabi’s MGX
Recently expanded into on-chain lending & borrowing
6️⃣ Bigger Picture:
Pakistan continues pushing to become a global crypto hub, with steps including:
New crypto regulatory authority
Approval of major exchanges
Exploring Bitcoin reserves & asset tokenization
7️⃣ Market Signal:
Government-level stablecoin adoption highlights growing institutional trust in blockchain-based payments.
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