Trump-Backed World Liberty Financial Joins Forces with Pakistan Crypto Council to Boost DeFi Innovation
In a strategic move aimed at enhancing cryptocurrency adoption in Pakistan, World Liberty Financial, a platform backed by former U.S. President Donald Trump, has signed a Letter of Intent with the Pakistan Crypto Council. This partnership seeks to accelerate the adoption of decentralized finance (DeFi), stablecoins, and real-world asset tokenization in the South Asian country, positioning it as a leader in the rapidly growing cryptocurrency market.
A Major Leap for Crypto in Pakistan: What the Partnership Entails
World Liberty Financial’s collaboration with the Pakistan Crypto Council promises to bring significant changes to the country’s financial landscape. The Letter of Intent outlines plans to establish regulatory sandboxes for testing blockchain-based products, expand stablecoin applications for remittances and trade, and explore the potential for real-world asset tokenization. Additionally, the partnership will aid in the development of decentralized finance (DeFi) protocols, offering fresh opportunities for Pakistan’s growing crypto market.
Zach Witkoff, Zak Folkman, and Chase Herro, founders of World Liberty Financial, signed the letter during a recent meeting with Bilal bin Saqib, CEO of the Pakistan Crypto Council. Pakistan’s central bank governor, finance minister, and IT secretary were also in attendance, reflecting the high-level governmental support for this partnership.
Pakistan’s Push for Crypto Innovation with Global Backing
Pakistan’s Crypto Landscape is expanding rapidly. Last year, Chainalysis ranked Pakistan as the ninth-largest country for crypto adoption, with approximately 25 million active crypto users and over $300 billion in annual crypto transactions. With such impressive numbers, Pakistan’s government is eager to capitalize on this momentum by tapping into the growing youth demographic. As 60% of Pakistan’s population is under 30, the country is positioning itself to lead the world in blockchain innovation.
Finance Minister Muhammad Aurangzeb expressed confidence that the country’s youth and technology sector will drive this transformation. Through partnerships like this one with World Liberty Financial, the government aims to attract investment, foster innovation, and establish a strong position in the global blockchain economy.
Balancing Innovation with Regulation: A Careful Approach
While Pakistan’s crypto-friendly approach has made significant strides, the government is also careful about balancing technological advancement with national security. This caution was reflected in a recent proposal from Pakistan’s Federal Investigation Agency (FIA), which unveiled a crypto regulatory framework to address concerns over terrorism financing, money laundering, and Know Your Customer (KYC) requirements.
Sumera Azam, FIA Director, emphasized that the regulatory framework is a key part of the country’s efforts to balance technological progress with national security. The framework is slated for multi-phased implementation starting in 2026, with input from crypto firms expected to shape the final regulations.
This shift towards regulation marks a significant departure from Pakistan’s 2023 stance, when former finance minister Aisha Ghaus Pasha stated that the country would never legalize cryptocurrencies due to concerns about compliance with Financial Action Task Force (FATF) standards.
Crypto’s Bright Future in Pakistan
The new partnership between World Liberty Financial and the Pakistan Crypto Council opens the door for Pakistan to become a major player in the global blockchain economy. With strong government support and growing interest from the youth, the country is poised to become an influential hub for crypto innovation in the years ahead.
In a world where the crypto landscape is ever-changing, Pakistan’s efforts to balance innovation with regulation will be crucial in determining its success as a global leader in the blockchain space.
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