ISLAMABAD – With sustained international attention and regulation-first strategy, Pakistan is increasingly being viewed as a market to watch as the global digital finance revolution gathers pace.
The government has taken major step toward reshaping its financial future by signing a memorandum of understanding (MoU) with SC Financial Technologies LLC, an affiliate of World Liberty Financial, to explore the use of World Liberty’s stablecoin for cross-border transactions.
Pakistan Virtual Asset Regulatory Authority (PVARA) said the agreement opens the door to in-depth technical engagement and dialogue on next-generation digital payment systems, signalling Pakistan’s intent to position itself at the forefront of global financial innovation.
The announcement coincided with high-profile visit to Pakistan by Zach Witkoff co-founder and chief executive of World Liberty Financial and son of US special envoy Steve Witkoff, underscoring growing international confidence in Pakistan’s digital finance ambitions. During his visit, Witkoff met senior government and regulatory officials to discuss secure, transparent, and compliant digital payment infrastructure, with a focus on cross-border settlements and foreign exchange innovation.
PVARA described Pakistan as rapidly transforming into a serious contender in the global digital finance race, as World Liberty Financial deepens its engagement with the country to explore cutting-edge payment technologies and cross-border financial solutions.
Industry observers see World Liberty Financial’s second engagement with Pakistan as a powerful signal that the country is being actively assessed as a potential early-stage partner for piloting new digital payment models, including its USD1 stablecoin. This interest comes at a time when global fintech firms are increasingly seeking stable, regulation-aware markets to test and scale innovation.
Speaking on occasion, Federal Minister for Finance and Revenue Muhammad Aurangzeb said Pakistan understands that the future of finance is being shaped today and is determined to stay ahead by engaging with credible global players. He stressed that innovation would only be pursued in alignment with regulatory safeguards, financial stability, and the country’s national interest.
The latest MoU builds on earlier collaboration between World Liberty Financial and Pakistan. In April, the company signed a Letter of Intent with the Pakistan Crypto Council led by CEO Bilal Bin Saqib laying the foundation for knowledge-sharing and ecosystem-wide dialogue on emerging financial technologies.
Momentum in Pakistan’s digital asset sector has accelerated rapidly. On December 12, the newly established PVARA issued No Objection Certificates (NOCs) to global crypto giants Binance and HTX, allowing both exchanges to initiate local incorporation. Remarkably, the approvals were granted in under five months — significantly faster than timelines typically seen in other jurisdictions.
Further elevating Pakistan’s profile, Binance founder Changpeng Zhao and TRON founder Justin Sun also visited the country, engaging with top public and private sector leaders as part of broader discussions on Pakistan’s evolving digital asset framework and regulatory roadmap.
According to PVARA, Pakistan is now one of the most compelling frontier markets for digital payments and financial innovation. The country records over $38 billion in annual remittances, boasts a fast-growing digital economy, and is home to an estimated 40 million crypto users. Industry estimates place annual digital asset trading volumes as high as $300 billion, ranking Pakistan among the world’s largest crypto user bases.
Pakistan issues NOC to Binance and HTX for crypto and digital currency initiatives
