Pakistan said to partner with Trump-backed WLF on dollar stablecoin

Pakistan has signed an agreement with a company connected to World Liberty Financial to explore using its dollar-linked stablecoin for cross-border payments, according to a source familiar with the matter.

World Liberty Financial is a cryptocurrency finance firm launched in the US in 2024 and linked to the Trump family.

The deal will see World Liberty Financial work with Pakistan’s central bank to integrate its USD1 stablecoin into a regulated payments system, the source said.

Further details about the partnership with SC Financial Technologies, a company associated with World Liberty, were not disclosed.

🔗 Source: Reuters

🧠 Food for thought

Implications, context, and why it matters.

USD1 lacks the regulatory foundation Pakistan needs for central bank integration

NYDIG says USD1 is behind on monthly attestation reports (third-party verifications of reserve assets). The most recent available is from July 2025 as of early October, and it trails USD Coin (USDC) issued by Circle 1.
The upcoming GENIUS Act (a proposed U.S. stablecoin law), expected by early 2027, will limit issuance to subsidiaries of regulated banks or state-qualified entities (for example, certain state-chartered trust companies). NYDIG views the issuer BitGo Technologies (a crypto custody and wallet provider) as outside those categories 1.
Pakistan’s central bank will ask for proof of USD1’s regulatory status, current reserve attestations, and custodian details (where and how the reserves are safeguarded). As of early October 2025, NYDIG flagged attestation delays and possible conflicts with the forthcoming GENIUS Act 1.

Cross-border fintechs can target Pakistan’s $28 billion remittance corridor if USD stablecoin rails emerge

Pakistan took in $27 billion in remittances in 2023, with $28 billion expected in 2024, the highest in the OIC. Most inflows come from the Gulf, the UK, and North America 2.
If a USD stablecoin payment rail (infrastructure for moving money) launches in Pakistan, cross-border platforms and on/off-ramp providers (companies that convert between bank accounts/local currency and crypto dollars) can focus on partnerships and liquidity to earn fees as well as FX spreads.
Remittances to low- and middle-income countries should reach $685 billion in 2024, outpacing foreign direct investment and official development assistance combined 3.