PVARA says MoU would enable “dialogue and technical understanding around emerging digital payment architectures”
Ansar M Bhatti
ISLAMABAD: The federal government on Wednesday signed a memorandum of understanding (MoU) with SC Financial Technologies LLC, an affiliated entity of World Liberty Financial, to explore using World Liberty’s stablecoin for cross-border transactions.
The Pakistan Virtual Asset Regulatory Authority (PVARA) said in a statement that a memorandum of understanding with SC Financial Technologies would enable “dialogue and technical understanding around emerging digital payment architectures”.
The announcement of the memorandum came during a visit to Pakistan by Zach Witkoff, son of US special envoy Steve Witkoff and co-founder and chief executive of World Liberty.
Witkoff also met senior Pakistani stakeholders to discuss how countries are approaching secure, compliant, and transparent digital payment infrastructure, including innovations in cross-border settlement and foreign exchange processes.
“Pakistan is rapidly positioning itself as a serious contender in the global digital finance landscape, as World Liberty Financial deepens its engagement with the country to explore next-generation digital payment and cross-border finance innovations,” the Pakistan Virtual Asset Regulatory Authority said in a statement.
Industry observers view World Liberty Financial’s second engagement with Pakistan as a strong indication that the country is being actively evaluated as a potential early-stage partner jurisdiction for exploring new digital payment models, including its stablecoin, USD1, at a time when stable, regulation-aware markets are increasingly sought by global fintech players, it added.
Speaking on the occasion, Federal Minister for Finance and Revenue Muhammad Aurangzeb said: “Pakistan recognises that the future of finance is being shaped today. Our focus is to stay ahead of the curve by engaging with credible global players, understanding new financial models, and ensuring that innovation, where explored, is aligned with regulation, stability, and national interest.”
With sustained international interest and a structured, regulation-first approach, the authority said that Pakistan is increasingly being viewed as a market to watch in the evolution of global digital finance.
