World Liberty Financial (WLF), a decentralized finance (DeFi) platform backed by former U.S. President Donald Trump, has signed a groundbreaking Letter of Intent (LOI) with the Pakistan Crypto Council (PCC) to drive blockchain innovation, promote stablecoin adoption, and integrate decentralized finance (DeFi) across Pakistan.
The WLF delegation, which included Zachary Folkman, Zachary Witkoff (son of Steve Witkoff, the U.S. Special Envoy to the Middle East), and Chase Herro, met with Pakistan’s key leadership figures such as the Prime Minister, Chief of Army Staff, Deputy Prime Minister, Minister of Information, and Minister of Defence to formalize the cooperation, marking a significant step toward positioning Pakistan as a global leader in the digital finance sector.
WLF is backed by the Trump family, including Donald Trump and his sons—Eric Trump, Donald Trump Jr., and Barron Trump. President Trump has personally endorsed WLF, calling its whitelist launch a ‘historic moment’ in a tweet from September 2024.
WLF aims to revolutionize global finance by leveraging blockchain technology, with core pillars such as the USD1 stablecoin (a dollar-pegged digital asset backed by U.S. Treasuries to facilitate remittances and international trade), the WLFI governance token (a non-transferable token that offers community members voting rights), a DeFi infrastructure built on Aave v3 for secure lending and borrowing, and a commitment to real-world asset (RWA) tokenization via strategic partnerships like Ondo Finance, bridging traditional finance with decentralized platforms.
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Pakistan’s progressive approach signals its readiness to embrace financial innovation. The government has hinted at announcing comprehensive cryptocurrency legalization policies soon, solidifying Pakistan’s position as one of the fastest-growing crypto markets globally.
The LOI was signed by Bilal Bin Saqib, CEO of the Pakistan Crypto Council, and the WLF team during a meeting that also 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 Scope of Cooperation outlines key areas of collaboration, including launching regulatory sandboxes for blockchain product testing, expanding stablecoin use for remittances and trade, tokenizing real-world assets like real estate and commodities, and providing strategic advisory on blockchain infrastructure and global regulatory trends.
Pakistan boasts a rapidly growing digital economy, with over 64% of its population under the age of 30. It ranks among the top countries for crypto adoption, with an estimated $300 billion in annual crypto transactions and 25 million active users. The country’s rising mobile penetration, vibrant freelance economy, and strong government interest in blockchain make Pakistan’s youth a powerful force in driving the next wave of Web3 innovation.
Finance Minister Muhammad Aurangzeb emphasized, “Pakistan’s youth and technology sector are our greatest assets. This partnership opens new doors for investment, innovation, and global leadership in the blockchain economy.”
CEO of the Pakistan Crypto Council Bilal Bin Saqib added, “Our collaboration with World Liberty Financial goes beyond partnership—it’s a strategic move to empower our youth and integrate Pakistan into the future of global finance.”
World Liberty Financial’s leadership praised Pakistan for its dynamism and vision, stating, “Pakistan’s energy, vision, and talent make it one of the most exciting places in the world to build the future of decentralized finance.”
