ISLAMABAD. Pakistan’s Finance Ministry signed a memorandum of understanding (MoU) Wednesday with SC Financial Technologies, a firm controlled by the Witkoff family and affiliated with World Liberty Financial (WLFI). The agreement initiates a pilot program to integrate the USD1 stablecoin into Pakistan’s regulated payment grid for cross-border remittances.
Markets reacted immediately. The World Liberty Financial governance token (WLFI) climbed to $0.18 (+8.2%) following the announcement, pushing its market cap to $4.9 billion. This marks one of the first sovereign integrations for USD1 since its March 2025 launch.
The Deal Structure
The MoU, signed in Islamabad during a visit by World Liberty CEO Zach Witkoff, establishes a framework for the State Bank of Pakistan to test USD1 settlements alongside its domestic digital currency infrastructure. The primary objective is cutting remittance costs, a critical liquidity lifeline for the nation.
SC Financial Technologies, the signatory entity, is a holding vehicle linked to Steve Witkoff, President Trump’s Special Envoy to the Middle East and a co-founder of World Liberty Financial. While the deal is technical in nature, the political subtext of a US-aligned stablecoin entering Pakistan’s financial stack signals a shift in Islamabad’s monetary diplomacy.
Pakistan recognizes that the future of finance is being shaped today. Our focus is to stay ahead by engaging with credible global players and ensuring innovation is aligned with regulation. Muhammad Aurangzeb, Minister of Finance
Institutional Context
This partnership follows a pattern of state-level adoption for World Liberty’s products. In May 2025, Abu Dhabi’s state-controlled investment firm, MGX, utilized USD1 to settle a $2 billion equity stake acquisition in Binance, validating the stablecoin’s utility for high-value institutional settlement. For Pakistan, the move attempts to bypass the friction of traditional SWIFT rails, which have historically slowed dollar inflows.
The State Bank has not confirmed a timeline for a full public rollout, though sources indicate the pilot will focus initially on remittance corridors from the UAE and Saudi Arabia.
