According to Reuters, the State Bank of Pakistan has reached a cooperation agreement with World Liberty Financial, a cryptocurrency company associated with the Trump family. The collaboration will explore the use of World Liberty's dollar-pegged stablecoin, USD1, for cross-border payments. Under the agreement, World Liberty will assist Pakistan in integrating the USD1 stablecoin into its regulated digital payment framework, enabling it to operate in parallel with Pakistan's domestic digital currency infrastructure. The partnership is expected to be officially announced during a visit to Islamabad by World Liberty's CEO, Zach Witkoff.
Pakistan's Central Bank Partners with World Liberty Financial to Explore USD for Cross-Border Payments
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Summary
Pakistan's Central Bank has partnered with World Liberty Financial, a cryptocurrency company associated with the Trump family, to explore the use of USD1 for cross-border payments. The collaboration focuses on digital asset regulation and compliance with anti-money laundering (AML) and counter-terrorism financing (CFT) requirements. World Liberty will assist Pakistan in integrating USD1 into its regulated digital payment system. This initiative aligns with efforts to enhance financial oversight and facilitate smoother international transactions. CEO Zach Witkoff is expected to announce the agreement during a visit to Islamabad.
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