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Pakistan to Test Dollar Stablecoin Payments
Source: Coinspaidmedia Original Title: Pakistan to Test Dollar Stablecoin Payments Original Link: Pakistan’s Virtual Assets Regulatory Authority (PVARA) entered into agreements with SC Financial Technologies, a company affiliated with World Liberty Financial, a crypto financial business. The parties intend to work on integrating the USD1 stablecoin into Pakistan’s national payment system for cross-border settlements.
Under the agreements, the parties will engage in dialogue and technical development of promising architectural solutions for digital payments. In particular, SC Financial Technologies will cooperate with the State Bank of Pakistan on the potential use of USD1 in a regulated digital environment alongside the country’s future central bank digital currency (CBDC).
The signing of the document took place during a visit to Pakistan by Zach Witkoff, Co-Founder and CEO of World Liberty Financial, who also heads SC Financial Technologies. The company is registered in Delaware and jointly owns the USD1 stablecoin brand together with World Liberty Financial. This deal is one of the first publicly announced partnerships between World Liberty Financial and a sovereign state since the platform’s launch in September 2024.
During the visit, Witkoff held meetings with senior representatives of Pakistan’s financial sector, discussing issues related to digital payment infrastructure, cross-border settlements, and currency operations. Pakistan’s Minister of Finance stated that the country’s authorities are interested in cooperating with international companies provided that innovations comply with regulatory requirements, financial stability, and national interests.
Pakistan is actively exploring digital currencies. In 2025, the government began developing regulatory frameworks for digital assets and virtual asset service providers (VASP), aiming to reduce cash usage and improve the efficiency of cross-border transfers. The authorities also announced the creation of a state strategic Bitcoin reserve. In 2024, Pakistan ranked among the world’s top ten most crypto-friendly jurisdictions.