Islamabad: Pakistan has taken another step toward strengthening its digital finance ecosystem as the Ministry of Finance signed a Memorandum of Understanding (MoU) with SC Financial Technologies LLC, an affiliated entity of World Liberty Financial, to collaborate on emerging digital payment architectures, including the potential use of the firm’s USD1 stablecoin for cross-border transactions.
The MoU aims to establish a structured dialogue and deepen technical cooperation on secure, compliant, and transparent digital payment infrastructure. It also explores innovations in cross-border settlement and foreign exchange mechanisms, reflecting Pakistan’s growing focus on modernising its financial systems.
A delegation led by Zachary Witkoff, Chief Executive Officer of SC Financial Technologies LLC, met with senior Pakistani officials to discuss global regulatory approaches and technological shifts shaping digital payments and settlement systems.
Officials said the engagement highlights Pakistan’s rising profile in global digital finance, noting that World Liberty Financial is undertaking its second round of high-level discussions in the country. Industry observers view the development as an indication that Pakistan is being considered as a potential early partner jurisdiction for piloting new digital payment models, including stablecoin-based solutions.
Commenting on the development, Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb said Pakistan is committed to remaining proactive in shaping the future of finance.
“Pakistan recognises that the future of finance is being shaped today. 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,” he said.
The latest engagement builds on a Letter of Intent signed in April between World Liberty Financial and the Pakistan Crypto Council, led by CEO Bilal Bin Saqib, which laid the groundwork for knowledge-sharing on emerging financial technologies.
It also follows recent regulatory progress in Pakistan’s digital asset sector. On December 12, the Pakistan Virtual Asset Regulatory Authority (PVARA) issued No Objection Certificates (NOCs) to Binance and HTX, allowing both platforms to begin local incorporation. The approvals were granted in under five months, a timeline faster than in many other jurisdictions. As part of broader engagement, Binance Founder Changpeng Zhao and TRON Founder Justin Sun also visited Pakistan for meetings with key public and private sector stakeholders.
Pakistan is increasingly being viewed as a high-potential frontier market for digital payments and financial innovation, driven by annual remittance inflows exceeding USD 38 billion, rapid growth in the digital economy, a large crypto user base, and significant estimated digital asset trading volumes.
With rising international interest and a regulation-first approach, Pakistan is positioning itself as an emerging player in the global evolution of digital finance and cross-border payment systems.
