The agreement would explore integrating a dollar-backed stablecoin into Pakistan’s regulated payments system as the country ramps up plans for digital currency and virtual-asset rules.
What to know:
Pakistan has signed a deal with SC Financial Technologies to explore cross-border stablecoin payments.
The little known firm is reportedly an affiliate of Trump-linked WLFI crypto project.
SC Financial Technologies will collaborate with Pakistan's central bank to integrate the USD1 stablecoin into the country's payment systems.
Pakistan announced that it signed a deal to explore cross-border stablecoin payments with a company linked to World Liberty Financial, the crypto business tied to the U.S. President Donald Trump’s family.
Pakistan’s Virtual Asset Regulatory Authority (PVARA) said the agreement takes the form of a memorandum of understanding with SC Financial Technologies, a relatively obscure firm it described as an affiliated entity of World Liberty Financial. The memorandum sets the stage for technical cooperation on regulated stablecoin-based payment infrastructure.
PVARA said the deal will support technical discussions around digital payment systems and new models for regulated cross-border settlement, signalling Pakistan’s growing interest in stablecoins and blockchain-based infrastructure.
A person familiar with the deal said SC Financial Technologies will work alongside Pakistan’s central bank to explore how WLFI’s USD1 stablecoin could be incorporated into a compliant payments framework. The plan would allow the token to function alongside the country’s own developing digital currency systems, potentially supporting international transfers and settlement flows.
“Our focus is to stay ahead of the curve by engaging with credible global players, understanding new financial models, and ensuring that innovation, where explored, is aligned with regulation, stability, and national interest,” Pakistan Finance Minister Muhammad Aurangzeb said.
Stablecoins, digital assets usually pegged to the U.S. dollar, have expanded rapidly in recent years as crypto markets matured and financial institutions increasingly tested tokenized payments. Under President Donald Trump, the U.S. has moved forward with federal rules widely viewed as favorable to the sector, while regulators worldwide continue exploring how stablecoins might function inside mainstream payment systems.
