World Liberty Financial Signs Agreement with Pakistan Crypto Council

ISLAMABAD: World Liberty Financial (WLF), a decentralized finance (DeFi) platform supported by former US President Donald Trump, formalized a Letter of Intent (LoI) with the Pakistan Crypto Council (PCC) on Saturday. The agreement aims to expedite blockchain advancements, encourage the use of stablecoins, and incorporate decentralized finance (DeFi) solutions throughout Pakistan.

The WLF contingent, which included Zachary Folkman, Zachary Witkoff (son of Steve Witkoff, the former United States Special Envoy to the Middle East), and Chase Herro, engaged with key Pakistani figures, such as the Prime Minister, Chief of Army Staff, Deputy Prime Minister, Minister of Information, and Minister of Defence. This collaboration signifies a substantial move towards establishing Pakistan as a prominent player in the evolving digital finance landscape.

Pakistan’s forward-thinking strategy highlights its dedication to embracing financial technology. The administration has indicated intentions to soon reveal thorough crypto regulatory frameworks, reinforcing Pakistan’s standing as one of the world’s rapidly expanding cryptocurrency markets.

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

The collaborative scope between the Pakistan Crypto Council and World Liberty Financial includes the establishment of regulatory sandboxes for evaluating blockchain-based financial products, enabling the responsible expansion of DeFi protocols, investigating the tokenization of tangible assets like properties and commodities, broadening stablecoin applications for remittances and commerce, and offering strategic advice on blockchain infrastructure and worldwide regulatory patterns. Pakistan possesses a very promising digital economy, where over 64% of its population is below 30 years of age.

The nation is highly ranked in global crypto adoption, with roughly $300 billion transacted yearly in cryptocurrency and 25 million active crypto users.

Pakistan’s young population is uniquely positioned to foster the next wave of Web3 innovation thanks to growing mobile penetration, a dynamic freelance market, and considerable governmental interest in blockchain technology.

Finance Minister Muhammad Aurangzeb stated, “Pakistan’s young population and technology sector are our biggest strengths. Through partnerships such as this, we are creating new opportunities for investment, innovation, and global leadership within the blockchain industry.”

Bilal Bin Saqib, CEO of the Pakistan Crypto Council, added, “Our alliance with World Liberty Financial is more than simply a collaboration; it is a calculated step to empower our youth and assimilate Pakistan into the coming era of international finance.”

World Liberty Financial’s leadership commended Pakistan’s vitality, noting, “Pakistan’s drive, vision, and skillset render it one of the globe’s most appealing locations to shape the future of decentralized finance.”