Trump-backed DeFi platform inks deal with Pakistan Crypto Council to boost blockchain innovation

ISLAMABAD: World Liberty Financial (WLF), the decentralised finance (DeFi) platform backed by the US President Donald Trump, on Saturday has signed a landmark Letter of Intent (LoI) with the Pakistan Crypto Council (PCC) to accelerate blockchain innovation, stable-coin adoption, and decentralised finance (DeFi) integration across Pakistan.

The WLF delegation including Zachary Folkman, Zachary Witkoff (son of Steve Witkoff who’s the United States Special Envoy to the Middle East), and Chase Herro met with Pakistan’s leadership including the Prime Minister, Chief of Army Staff, Deputy Prime Minister, Minister of Information and Minister of Defence to formalise cooperation, marking a major step toward positioning Pakistan as a global leader in the digital finance revolution.

Pakistan’s proactive approach demonstrates its commitment to embracing the next wave of financial innovation. The government has signalled plans to very soon announce comprehensive crypto legalisation policies, further strengthening Pakistan’s position as one of the fastest-growing crypto markets in the world.

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The Letter of Intent was signed during the meeting of World Liberty Financial and Pakistan Crypto Council. The meeting included the Finance Minister of Pakistan, CEO of the Council, Governor State Bank of Pakistan, Chairman SECP, and Federal Secretary for IT.

The scope of cooperation between Pakistan Crypto Council and World Liberty Financial outlines collaboration in key areas including: Launching regulatory sandboxes for blockchain financial product testing, facilitating the responsible growth of DeFi protocols, exploring tokenisation of real-world assets like real estate and commodities, expanding stable-coin applications for remittances and trade, and providing strategic advisory on blockchain infrastructure and global regulatory trends Pakistan offers one of the world’s most promising digital economies, with over 64 percent of its population under the age of 30.

The country ranks among the top in global crypto adoption, with an estimated $300 billion in annual crypto transactions and 25 million active crypto users.

With rising mobile penetration, a vibrant freelance economy and strong government interest in blockchain, Pakistan’s youth are uniquely positioned to drive the next wave of Web3 innovation.

“Pakistan’s youth and technology sector are our greatest assets. Through partnerships like this, we are opening new doors for investment, innovation, and global leadership in the blockchain economy,” Finance Minister Muhammad Aurangzeb stated.

CEO of the Pakistan Crypto Council Bilal Bin Saqib added: “Our collaboration with World Liberty Financial is more than just a partnership it’s a strategic move to empower our young population and integrate Pakistan into the future of global finance.”

World Liberty Financial leadership praised Pakistan’s dynamism, stating, “Pakistan’s energy, vision, and talent make it one of the most exciting places in the world to build the future of decentralized finance.”

Copyright Business Recorder, 2025