World Liberty Financial and Pakistan Crypto Council Join Forces

ISLAMABAD: World Liberty Financial (WLF), a decentralized finance (DeFi) platform with backing from former US President Donald Trump, formalized a Letter of Intent (LoI) with the Pakistan Crypto Council (PCC) on Saturday. This agreement aims to stimulate blockchain innovation, promote stable-coin utilization, 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, to solidify this partnership. This represents a significant stride towards establishing Pakistan as a prominent entity in the digital finance sphere.

Pakistan’s forward-thinking strategy underscores its dedication to embracing advancements in financial technology. The government has indicated intentions to soon reveal comprehensive crypto regulatory frameworks, thereby reinforcing Pakistan’s standing as a rapidly expanding crypto market on a global scale.

Binance founder CZ was designated as a strategic advisor to PCC.

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

The cooperative arrangement between the Pakistan Crypto Council and World Liberty Financial focuses on several crucial areas, including:

  • Establishing regulatory sandboxes to assess blockchain financial products.
  • Encouraging the responsible advancement of DeFi protocols.
  • Investigating the tokenization of tangible assets, such as real estate and commodities.
  • Increasing the use of stable-coins for remittances and commercial activities.
  • Delivering strategic advice on blockchain infrastructure and evolving global regulatory landscapes.

Pakistan boasts a promising digital economy, with more than 64% of its inhabitants under the age of 30.

The nation is highly ranked in worldwide crypto adoption, featuring approximately $300 billion in annual crypto transactions and 25 million active crypto users.

Fueled by increasing mobile device usage, a dynamic freelance workforce, and considerable governmental interest in blockchain technology, Pakistan’s young population is uniquely positioned to spearhead the next phase of Web3 advancements.

Finance Minister Muhammad Aurangzeb commented, “Pakistan’s young people and technology sector form our most valuable resources. Through alliances like this one, we are creating new avenues for investment, innovation, and global leadership within the blockchain economy.”

Bilal Bin Saqib, CEO of the Pakistan Crypto Council, stated, “Our alliance with World Liberty Financial signifies more than just a partnership; it represents a calculated action to empower our youth and assimilate Pakistan into the forthcoming era of global finance.”

World Liberty Financial leaders lauded Pakistan’s vibrant environment, noting, “Pakistan’s drive, foresight, and capabilities position it as one of the most compelling locations globally to pioneer the future of decentralized finance.”