ISLAMABAD: Pakistan and World Liberty Financial USA signed a memorandum of understanding in Islamabad on Wednesday to advance cooperation on crypto, digital payments innovation, and cross-border financial transactions.
A delegation of World Liberty Financial USA, led by CEO Zachary Witkoff, called on Pakistan’s Prime Minister Shehbaz Sharif in Islamabad, said a press release issued by Pakistan’s Prime Minister’s Office.
Deputy Prime Minister Ishaq Dar, Chief of the Army Staff and Chief of Defense Forces Field Marshal Syed Asim Munir, Minister for Finance Muhammad Aurangzeb, SAPM Syed Tariq Fatemi, and Pakistan Virtual Assets Regulatory Authority (PVARA) Chairman Bilal Bin Saqib also attended the meeting.
Welcoming the delegation, the prime minister shared his vision for digital Pakistan, aimed at increasing connectivity, access, transparency, and openness for citizens.
He said the rapid growth of digital payments and financial innovation is essential to Pakistan’s expanding digital economy.
The prime minister appreciated the growing international interest in Pakistan’s digital financial markets and noted with deep satisfaction that Pakistan is fast becoming part of the global digital finance landscape.
Zachary Witkoff expressed keen interest in engaging with Pakistan to build a secure, transparent digital payment infrastructure, including innovations in cross-border settlement and foreign exchange processes.
He lauded Pakistan’s policy framework, which is helping to position the country as a leading contender in the global digital finance landscape.
Witkoff expressed a keen desire to further deepen engagement with Pakistan to explore next-generation digital payment and cross-border finance innovations.
Signing of MoU
Prime Minister Sharif and CDF Munir later witnessed the signing of the MoU between the Government of Pakistan and SC Financial Technologies LLC, an affiliated entity of World Liberty Financial, to enable structured dialogue and technical understanding around emerging digital payment architectures for cross-border transactions.
Minister for Finance Muhammad Aurangzeb and CEO World Liberty Financial Zachary Witkoff signed the MoU on behalf of the respective sides.
‘New economy’
Pakistan TV Digital correspondent Ayesha Mir spoke with Finance Minister Muhammad Aurangzeb, World Liberty Financial executives, and the chairman of PVARA, following the signing of the MoU between Pakistan and World Liberty Financial.
Witkoff, the company’s CEO, said, “We’re really excited about this MoU to bring the most regulated digital dollar in the world to Pakistan and its people.”
He added that the company was “really excited to do business here.”
Finance Minister Aurangzeb framed the development as part of Pakistan’s transition to what he called the “new economy.”
He said the journey began last year with the formation of the Crypto Council and accelerated after learning from US legislative efforts.
“With this MoU, we take it to the next level,” he said, adding that the government wanted to fast-track the process to help Pakistan “leapfrog in terms of the new economy.”
‘Can’t hide my excitement’
Aurangzeb also highlighted the scale of crypto adoption in the country, revising earlier estimates upward. “It’s not really 20 million; my latest understanding is that it's about 40 million,” he said, describing strong uptake among young people and freelancers. “As a finance minister, all I can say is that I can’t hide my excitement to be on this journey.”
Bilal Bin Saqib, chairman of PVARA, stressed that the government was not promoting crypto but regulating an activity that already exists.
“We are not essentially promoting; we are regulating the adoption which has already existed without any classroom, without any framework,” he said, calling the MoU a sign that Pakistan is creating an enabling but risk-mitigated environment.
‘Crypto speed’
World Liberty Financial co-founder Chase Herro praised the pace of reform understanding. “This absolutely is the fastest yet,” he said, with Bin Saqib adding, “This is being done at crypto speed.”
Zak Folkman, co-founder and COO of World Liberty Financial, outlined the economic rationale behind the agreement. He said between $20 billion and $25 billion in digital assets held by Pakistanis currently sit outside the formal system.
By introducing USD1 and a regulated foreign exchange model, he said, Pakistan could bring these funds into compliance, reduce reliance on “grey and black market brokers,” lower costs for ordinary users, and attract foreign investment.
“Pakistan has always been at the forefront; now it’s just time to bring it into a regulated ecosystem,” Folkman said.
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