Odaily Planet News: The Pakistan Virtual Asset Regulatory Authority (PVARA) announced that it has signed a Memorandum of Understanding (MoU) with SC Financial Technologies LLC, a subsidiary of Trump family's cryptocurrency project World Liberty Financial (WLFI), to explore the use of the USD1 stablecoin for cross-border payments and digital settlements. The MoU focuses on technical cooperation, knowledge sharing, and regulatory dialogue, and does not currently constitute a binding agreement to deploy USD1 within Pakistan's financial system. Under the terms of the MoU, SC Financial Technologies will collaborate with Pakistan's central bank and relevant agencies to study how stablecoins like USD1 can be integrated into the country's regulated payment ecosystem. (Financefeeds)
Pakistan and WLFI Sign MoU to Explore USD1 Stablecoin for Cross-Border Payments
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Summary
Pakistan's Virtual Asset Regulatory Authority (PVARA) has signed a Memorandum of Understanding (MoU) with SC Financial Technologies LLC, a cryptocurrency firm associated with Donald Trump, to explore the use of the USD1 stablecoin for cross-border payments. The agreement includes technical collaboration, knowledge sharing, and regulatory dialogue. SC Financial will work with Pakistan's central bank to evaluate how USD1 and similar stablecoins could be integrated into the country's regulated payment system. However, the agreement does not currently commit to the deployment of USD1 in Pakistan. This move relates to stablecoin regulation and could impact liquidity and cryptocurrency markets in the region.
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