Pakistan Signs Deal to Explore Stablecoin USD1 for Cross-Border Payments

Pakistan is advancing its digital finance ecosystem as the Ministry of Finance signed a Memorandum of Understanding with SC Financial Technologies LLC, an affiliate of World Liberty Financial, to explore emerging digital payment systems, including the potential use of the firm’s USD1 stablecoin for cross-border transactions. The MoU focuses on structured dialogue and technical collaboration to develop secure, compliant, and transparent digital payment infrastructure, as well as innovations in cross-border settlement and foreign exchange mechanisms.

A delegation led by SC Financial Technologies CEO Zachary Witkoff met with senior Pakistani officials to discuss global approaches to regulatory frameworks and technological developments in digital payments and settlement systems. Officials noted that this engagement underscores Pakistan’s growing prominence in global digital finance, with the visit marking World Liberty Financial’s second round of high-level discussions in the country. Observers see Pakistan as a potential early partner for testing new digital payment models, including the USD1 stablecoin.

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb stated that Pakistan aims to remain proactive in shaping the future of finance, emphasizing collaboration with credible global players and aligning innovation with regulation, stability, and national interests.

This engagement follows a Letter of Intent signed in April between World Liberty Financial and the Pakistan Crypto Council, led by CEO Bilal Bin Saqib, which established a foundation for knowledge-sharing on emerging financial technologies. It also comes after regulatory progress in the digital asset sector, including No Objection Certificates issued to Binance and HTX by the Pakistan Virtual Asset Regulatory Authority, allowing both platforms to begin local incorporation in under five months. High-profile visits by Binance Founder Changpeng Zhao and TRON Founder Justin Sun further highlight Pakistan’s growing significance in the sector.

With strong remittance inflows exceeding USD 38 billion annually, rapid digital economy growth, a large crypto user base, and significant digital asset trading volumes, Pakistan is increasingly recognized as a high-potential frontier market for digital payments and financial innovation. By combining rising international interest with a regulation-first approach, Pakistan is positioning itself as a key player in the global evolution of digital finance and cross-border payment systems.