ISLAMABAD – Pakistan’s alleged crypto ties with company linked to US President Donald Trump’s family comes into the spotlight as Democrats prepare to investigate the firm’s foreign financial dealings, raising fresh questions about its international connections and agreements.
At centre of growing controversy is World Liberty Financial (WLF), a cryptocurrency venture associated with Trump’s sons and the family of Steve Witkoff, Washington’s special envoy to the Middle East. The company signed agreements with Pakistan including a MoU.
A report by US publication Politico said Democratic lawmakers are planning to use congressional investigative powers to look into Trump family’s cryptocurrency empire, its foreign investors and potential conflicts of interest.
However, Pakistan categorically denied investing public money in World Liberty Financial, while no publicly disclosed Democratic investigation request has specifically named Pakistan.
Pakistan’s ties with World Liberty Financial began taking shape in 2025 as Islamabad moved to establish a regulatory and policy framework for digital assets. In March 2025, the government established the Pakistan Crypto Council, opening the door to potential cooperation with international cryptocurrency businesses.
A month later, the council signed a Letter of Intent with World Liberty Financial, outlining possible cooperation in emerging financial technologies. The partnership gained further attention on January 14, 2026, when Pakistan’s Ministry of Finance signed a Memorandum of Understanding with the company.
The controversy intensified after Democrats decided to pursue investigations into President Trump’s business interests, including his family’s cryptocurrency ventures.
AP reported that Democratic lawmakers intend to dig deep into financial dealings of Trump, his relatives and close associates using congressional oversight and subpoena powers. World Liberty Financial is among the companies attracting attention. Democratic Senator Richard Blumenthal, expected to lead a Senate investigative committee, has identified Trump’s cryptocurrency business activities as an area requiring scrutiny.
Particular attention is being directed towards involvement of Steve Witkoff, the US special envoy to the Middle East, whose family has business connections with World Liberty Financial.
US Senator from Connecticut Blumenthal sent letters to several private companies and Trump administration officials seeking previously requested information. Among the cryptocurrency businesses named in the correspondence were World Liberty Financial and Binance. The companies were warned that failure to provide the required records by January 4, 2027, could lead to additional measures to secure compliance.
Amid growing controversy, Pakistan’s digital asset regulator has moved to clarify the nature of Islamabad’s relationship with World Liberty Financial. Pakistan Virtual Assets Regulatory Authority (PVARA) rejected suggestions that the government had invested in the company.
PVARA made it clear that Pakistan neither purchased shares in World Liberty Financial nor allocated government funds for investment in the Trump-linked business. It maintained that the agreements were intended to explore technological cooperation rather than establish an investment partnership.
The discussions instead focused on potential improvements in international payments, particularly the use of blockchain technology and US dollar-backed stablecoins to reduce transaction costs. The authority stressed that Pakistan’s objective was not to favour a particular company but to examine financial technologies capable of improving the country’s payment infrastructure.
Pakistan’s interest in World Liberty Financial was largely driven by the potential to modernise cross-border payments. According to PVARA, Pakistan received more than $41.6 billion in workers’ remittances during the previous fiscal year, making international money transfers a vital source of foreign exchange.
Even a modest reduction in remittance fees could translate into substantial savings for millions of Pakistani households. The regulator explained that dollar-backed stablecoins and blockchain-based payment systems could potentially offer faster, cheaper and more efficient alternatives to traditional international transfers.
World Liberty Financial confirmed that an affiliated entity had entered into an agreement with Pakistan in 2025 to explore the use of such technologies.
Company spokesperson David Wachsman said Pakistan had approximately 40 million cryptocurrency users and highlighted the high costs associated with international transfers through older financial systems. However, neither Pakistan’s regulator nor the company disclosed any government equity investment resulting from the cooperation.
While Pakistan’s agreements were publicly announced and described as technology-focused cooperation, World Liberty Financial’s financial relationship with the UAE has drawn sharper questions in States.
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