The agreement was signed between Pakistan Finance Minister Muhammad Aurangzeb and Zachary Witkoff, a co-founder of World Liberty Financial in Islamabad. Pakistan has signed an agreement with US-linked financial technology firm affiliated with World Liberty Financial, the main crypto business of the family of US President Donald Trump, to develop cross-border digital payment systems.
The agreement between Pakistan’s Ministry of Finance and SC Financial Technologies was signed by Finance Minister Muhammad Aurangzeb and Zachary Witkoff, a co-founder of World Liberty Financial (WLF) in Islamabad. The deal is one of the first public tie-ups between a country and World Liberty, linked to Trump’s family. It comes amid warming relations between Pakistan and the United States.
Under the agreement, WLF will work with Pakistan’s central bank to integrate its USD1 stablecoin into a regulated digital payments structure and allowing it for cross-border payments The Pakistan Virtual Asset Regulatory Authority, in a statement, said that the MoU with SC Financial Technologies, a little-known company, would enable “dialogue and technical understanding around emerging digital payment architectures.”
The deal between Islamabad and Trump-lined crypto firm comes after a series of meetings between Pakistani officials with the US President last year. Trump’s proximity to Islamabad has drawn fire from several US officials, who have accused the White House of prioritising family business interests.
Former US National Security Advisor Jake Sullivan had hit out at Trump and accused him of throwing away ties with India over his family’s business deals in Pakistan. To a question on Trump family’s Bitcoin business with Pakistan, Sullivan said, “I think this is one of the more under-reported stories in Trump’s foreign policy, and I’m really glad that you raised it.”
