Pakistan Embraces Digital Innovation with Stablecoin MoU

Pakistan has entered into a Memorandum of Understanding with World Liberty Financial to explore the use of stablecoins for cross-border payments. The agreement highlights Pakistan's growing interest in digital finance and its ambition to position itself as a key player in the global digital finance landscape.

In a significant move towards digital finance, Pakistan has signed a Memorandum of Understanding (MoU) with a company linked to World Liberty Financial, targeting the use of stablecoins for cross-border payments. This agreement was formalized by Finance Minister Muhammad Aurangzeb and Zach Witkoff, son of US Special Envoy Steve Witkoff, in Islamabad.

The Pakistan Virtual Assets Regulatory Authority (PVARA) confirmed the MoU with SC Financial Technologies LLC. The objective is to explore innovative digital finance opportunities, particularly stablecoins, for international transactions. According to PVARA, this signals Pakistan's emergence as a key market for digital assets globally.

Zach Witkoff engaged with senior officials to discuss secure and transparent digital payment infrastructures. The MoU is a result of continuous engagements between World Liberty Financial and Pakistan, marking the country's strategic movement towards enhancing digital finance capabilities and strengthening ties with the United States.