The Government of Pakistan announced it has signed a memorandum of understanding with SC Financial Technologies. The company is a subsidiary of World Liberty Financial — a cryptocurrency venture linked to U.S. President Donald Trump's family — and is exploring ways to integrate a dollar-pegged USD1 stablecoin into Pakistan's digital payment infrastructure for cross-border transactions.
What happened: Stablecoin Partnership Agreement
In a statement released on Wednesday, Pakistan's Virtual Assets Regulatory Authority described SC Financial Technologies as a "subsidiary" of World Liberty.
Regulators stated that this agreement will enable 'dialogue and technical understanding regarding a new digital payment architecture.'
Jack Willet, co-founder and CEO of World Liberty, visited Pakistan for the signing ceremony.
He is also the CEO of SC Financial Technologies, a company registered in Delaware, and according to documents on stablecoin reserves as of July 2025, jointly owns the USD1 stablecoin brand with World Liberty.
Under this agreement, SC Financial Technologies will collaborate with the State Bank of Pakistan to integrate USD1 into a regulated digital payment framework. According to a source involved in the negotiations, this stablecoin is expected to operate alongside Pakistan's own digital currency infrastructure.
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Why it matters: Adoption by a sovereign nation
This is one of the first publicly announced partnerships between World Liberty and a national government, launched in September 2024.
Finance Minister Muhammad Aurangzeb said, 'We are focusing on staying ahead by collaborating with trustworthy global players to understand new financial models, ensuring that innovation aligns with regulation, stability, and national interests when reviewed.'
Pakistan has been advancing digital currency initiatives to reduce cash usage and improve remittance flows, which are considered a key means for securing foreign exchange.
The central bank governor mentioned in July that the country is preparing for a digital currency pilot project and finalizing legislation for virtual asset regulation.
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