Pakistan's Crypto Leap: Collaboration with Trump's World Liberty

Pakistan has signed an agreement with SC Financial Technologies, linked to World Liberty Financial, to explore a stablecoin for cross-border payments. This move aligns with Pakistan's push to enhance its digital payment infrastructure. The partnership marks a pioneering crypto initiative involving World Liberty and a sovereign nation.

Pakistan announced on Wednesday its collaboration with SC Financial Technologies, a company associated with World Liberty Financial, to explore using stablecoin for cross-border payments. The agreement is among the first between World Liberty and a sovereign state, signifying a significant strategy reveal in digital payment systems.

This partnership aligns with Pakistan's broader agenda to modernize its digital payment frameworks, aiming to reduce cash usage and streamline cross-border transactions. SC Financial Technologies will assist Pakistan's central bank in integrating the USD1 stablecoin into the national digital currency infrastructure.

The announcement coincided with a visit to Pakistan by Zach Witkoff, CEO of World Liberty and SC Financial Technologies. Pakistan's Finance Minister emphasized the importance of aligning innovation with regulation and stability. This initiative is part of a global trend where nations are exploring the integration of stablecoins into their financial systems.

(With inputs from agencies.)