Pakistan Partners with Trump Family's World Liberty to Pioneer USD1 Stablecoin in Cross-Border Payments

Pakistan signed a deal with a firm linked to World Liberty Financial, associated with the Trump family, to use its USD1 stablecoin for cross-border payments. This initiative aims to integrate stablecoin within Pakistan's financial ecosystem, potentially influencing digital payments and remittances.

Pakistan has inked an agreement with a company tied to World Liberty Financial, the crypto enterprise involving the Trump family, to explore the use of its USD1 stablecoin for international payments. The Pakistan Virtual Asset Regulatory Authority confirmed the collaboration with SC Financial Technologies, an affiliate of World Liberty, ushering in new digital payment solutions.

This strategic partnership marks one of the earliest known alliances between World Liberty, launched in September 2024, and a sovereign nation. The news follows improved diplomatic relations between Pakistan and the United States. Reuters had previously revealed the agreement prior to official statements.

The deal envisions SC Financial Technologies collaborating with Pakistan's central bank to incorporate the USD1 stablecoin within the country's regulated digital payment framework. This move aims to bolster financial innovation, potentially enhancing remittance systems crucial to Pakistan's foreign exchange strategy.

(With inputs from agencies.)