$USD1 Stablecoin Deal Signed Between Pakistan and #Trump-Linked Firm
#Pakistan has entered an agreement with SC Financial Technologies to explore cross-border payments using the USD1 stablecoin, marking a partnership between the South Asian nation and a company connected to World Liberty Financial, the crypto venture associated with U.S. President Donald Trump's family.
The arrangement involves integrating the dollar-pegged token into Pakistan's regulated digital payments infrastructure, according to a Reuters report citing a source with knowledge of the matter. World Liberty Financial will work with Pakistan's central bank to develop a framework that supports remittances and other international transactions using the #USD1 token.
Details surrounding SC Financial Technologies remain sparse, with the company maintaining a low public profile despite its connection to #WorldLibertyFinancial. Specific financial terms of the Pakistani agreement were not made public by either party involved in the deal.
Pakistan plans to announce the partnership formally during a Wednesday visit by World Liberty chief executive Zach Witkoff to Islamabad. The deal represents one of the first publicly disclosed collaborations between Trump-associated crypto ventures and a sovereign government.
USD1 has demonstrated utility in major financial transactions beyond this Pakistani arrangement. In May, Abu Dhabi state-backed investment firm MGX used World Liberty's #stablecoin to complete a $2 billion equity purchase in $BNB exchange operator Binance, the world's largest cryptocurrency trading platform.
