Pakistan signs MoU with World Liberty Financial on USD1 stablecoin
Pakistan signed a memorandum of understanding in January with SC Financial Technologies, an affiliate of World Liberty Financial, to explore the firm's dollar‑pegged USD1 stablecoin for cross‑border payments, after World Liberty reported more than $500m in token sales. The signing was attended by Pakistan's prime minister and army chief and executed by SC Financial's Zach Witkoff Jr with finance minister Muhammad Aurangzeb. Nearly six months later there has been no pilot, no licences and no known transactions, while Pakistan has moved to create a regulator, PVARA, and clear banks to open accounts for licensed crypto firms.
The MoU secured high-level US access despite no USD1 deployment.
Context
Pakistan signed an MoU after a visit by World Liberty Financial. No pilot or licences have followed. Regulators have moved to create PVARA and banks can open accounts for licensed crypto firms.
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