Donald Trump’s family just upped their stakes in Pakistan! World Liberty Financial, a cryptocurrency company linked to the family of US President Donald Trump, has entered into an agreement with Pakistan. The development comes at a time when relations between Pakistan and the United States are improving.According to a Reuters report, the deal will explore the use of World Liberty’s stablecoin for cross-border transactions. The report adds that the deal is among the first publicly announced partnerships between World Liberty, a crypto-focused financial platform launched in September 2024, and a national government.
The Trump family-run company’s stablecoin deal with Pakistan
Under the agreement, World Liberty Financial will work with the Central Bank of Pakistan to integrate its USD1 stablecoin into a regulated digital payment system. This would allow the token to function alongside Pakistan’s existing digital currency systems, the Reuters report said.Further details of the agreement with SC Financial Technologies, a relatively low-profile company with ties to World Liberty, were not disclosed. Pakistan is expected to formally announce the agreement later on Wednesday during a visit by World Liberty chief Zach Witkoff to Islamabad.At the same time, Pakistan has been pushing forward work on digital currency initiatives to curb dependence on cash and improve cross-border payment channels, particularly remittances, which are an important source of foreign exchange. In July last year, the governor of the Central Bank of Pakistan said that in addition to finalizing laws to regulate virtual assets, preparations were also underway for a digital currency pilot project.Stablecoins are digital assets that are generally pegged to the value of the US dollar. These have increased significantly in size in recent years. Under President Donald Trump, the United States has introduced federal regulations that are widely seen as supportive of the cryptocurrency sector, while governments around the world are increasingly considering how to integrate stablecoins into payment mechanisms and broader financial systems.World Liberty reportedly contributed to a sharp jump in revenue for the Trump family’s business interests, collectively known as the Trump Organization, including revenue from foreign sources in the first half of last year. In May 2024, MGX, a state-owned investment firm based in Abu Dhabi, used the World Liberty stablecoin to acquire a $2 billion stake in Binance, the world’s largest cryptocurrency exchange.
