Exploring potential use of company’s USD1 stablecoin: Govt, WLF sign MoU

ISLAMABAD: In a significant move to enhance the country’s digital finance sector, the government signed a memorandum of understanding (MoU) on Wednesday with World Liberty Financial (WLF) to explore the potential use of the company’s USD1 stablecoin for cross-border payments.

The agreement with WLF, a leading US-based cryptocurrency platform connected to the family of President Donald Trump, aims to evaluate how World Liberty’s USD1 stablecoin – a digital currency pegged to the US dollar – could facilitate international transactions.

The MoU was signed during a high-level meeting with Zachary Witkoff, co-founder and CEO of World Liberty, whose family has close ties to the administration of US President Donald Trump. His father, Steve Witkoff, serves as Special Presidential Envoy for Peace Missions.

From Pakistan’s side, Finance Minister Muhammad Aurangzeb signed the MoU, marking a notable step in fostering financial innovation between the two countries.

Prime Minister Shehbaz Sharif extended a warm welcome to the delegation, outlining his vision for a “Digital Pakistan” aimed at improving connectivity, transparency, and accessibility for citizens.

He emphasised that the rapid growth of digital payments and financial innovations are integral to the country’s burgeoning digital economy.

Zachary Witkoff expressed his company’s enthusiasm for collaborating with Pakistan to develop a secure, transparent digital payment infrastructure.

He praised Pakistan’s progressive policy framework, noting that the country is quickly positioning itself as a key player in the global digital finance landscape.

Witkoff also expressed interest in furthering engagement to explore cutting-edge innovations in cross-border settlement and foreign exchange systems.

The signing event took place at the Prime Minister’s Office during a visit to Pakistan by the World Liberty delegation.

The event was attended by Prime Minister Shehbaz Sharif, along with senior government officials including Deputy Prime Minister and Foreign Minister Ishaq Dar, Chief of Defence Forces (CDF) and Field Marshal Syed Asim Munir, Chairman of the Pakistan Virtual Assets Regulatory Authority Bilal bin Saqib, and other senior government officials.

This partnership is also one of the first publicly disclosed collaborations between World Liberty Financial, which launched its cryptocurrency platform in September 2024, and a sovereign nation – Pakistan.

In a statement, the Prime Minister’s Office noted that the signing of the MoU is set to pave the way for structured dialogue and technical collaboration aimed at integrating emerging digital payment solutions for international transactions. This partnership comes at a time when Pakistan’s relations with the United States are steadily improving, with both sides recognising the growing potential of digital finance as a catalyst for economic growth.

Copyright Business Recorder, 2026