Pakistan Enters Agreement with SC Financial Technologies
ISLAMABAD, Jan 14 – Pakistan announced on Wednesday that it has finalized a contract with SC Financial Technologies, an affiliate of World Liberty Financial. This collaboration aims to investigate the potential use of World Liberty’s $1 stablecoin for international transactions.
The Pakistan Crypto Asset Regulatory Authority elaborated that this memorandum of understanding would facilitate discussions and enhance technical understanding surrounding new digital payment structures.
This marks one of the earliest publicly disclosed partnerships connecting World Liberty, a cryptocurrency financial platform established in September 2024, with a nation-state. It also coincides with the strengthening of relations between Pakistan and the United States.
According to reports, the agreement was formalized before the regulator made the announcement.
As part of the deal, SC Financial Technologies will collaborate with the Central Bank of Pakistan to integrate its USD1 stablecoin into a supervised digital payment framework, allowing it to coexist with the existing digital currency setup in Pakistan, as stated by individuals involved in the discussions.
CEO of World Liberty Visits Pakistan
The memorandum was disclosed during a visit by Zach Witkoff, co-founder and CEO of World Liberty and son of U.S. Special Envoy Steve Witkoff.
A government photograph captured Finance Minister Mohammad Aurangzeb alongside Witkoff as they signed the agreement, with Prime Minister Shehbaz Sharif and Army Chief General Asim Munir present. Other images revealed a diverse delegation from the Pakistani government, which included the intelligence chief and cryptocurrency regulator.
Witkoff also leads SC Financial Technologies, which co-owns the USD1 stablecoin brand with World Liberty, according to reserve documentation from July 2025.
World Liberty Financial’s spokesperson, David Waxman, remarked that this agreement could help maintain the U.S. dollar’s status as the world’s reserve currency. He clarified that World Liberty Financial did not receive any monetary compensation in relation to this deal.
Finance Minister Aurangzeb emphasized the importance of staying ahead in the financial landscape by teaming up with reliable global partners and ensuring that advancements align with regulations and national interests.
Recently, stablecoins—digital tokens usually pegged to the dollar—have gained considerable traction.
The Trump administration previously introduced federal regulations that many perceive as advantageous to the cryptocurrency sector. Worldwide, nations are beginning to evaluate the potential roles of stablecoins in their economies and payment systems.
In a broader context, it’s been noted that the Trump family’s involvement in cryptocurrencies raises questions of conflict of interest given President Trump’s oversight of U.S. crypto policies. The White House has dismissed these concerns.
Pakistan is currently investigating digital currency initiatives to limit cash usage and enhance cross-border payment systems, particularly remittances, which are vital for the nation’s foreign exchange reserves.
Official reports highlight that annual remittances surpass $36 billion, with around 40 million crypto users engaging in up to $300 billion in annual trading volume.
In July, the governor of Pakistan’s central bank disclosed plans to launch a digital currency pilot program and complete legislation that would regulate virtual assets.
