Pakistan signed an agreement with a firm tied to the family-linked crypto venture World Liberty Financial to pilot the use of its USD1 stablecoin for cross-border payments, a source said on Wednesday, according to.
The arrangement involves SC Financial Technologies, a little-known company linked to World Liberty Financial, and aims to test integration with Pakistan’s regulated digital payments framework.
The token would operate alongside the country’s emerging digital currency infrastructure and could support remittances and other cross-border transfers.
The central bank will work with World Liberty Financial on the integration (Ed. note: specific contract terms were not disclosed).
The USD1 stablecoin has a market capitalisation near $3.4 billion.
In May, Abu Dhabi state-backed investor MGX used the same stablecoin in a roughly $2 billion purchase of an equity stake in Binance.
World Liberty Financial recently launched World Liberty Markets, an onchain lending and borrowing platform built around its USD1 stablecoin and the WLFI governance token.
Pakistan has pushed to become a crypto hub by forming the Pakistan Virtual Assets Regulatory Authority and permitting exchanges such as Binance and HTX to operate.
The country is also building a Bitcoin reserve and exploring tokenisation of real-world assets to attract foreign investment.
