Pakistan has signed a memorandum of understanding with SC Financial Technologies LLC a US based fintech company affiliated with World Liberty Financial a platform linked to the Trump family. The partnership aims to explore a dollar pegged stablecoin USD1 and a framework for regulated digital payments in Pakistan.
Objective of the Partnership
The collaboration focuses on developing a secure fast and efficient cross border payments infrastructure. The framework is intended to facilitate remittances freelancer payments and export proceeds making it easier for Pakistani citizens and businesses to receive money from abroad. This initiative aligns with Pakistan’s ongoing efforts to modernize its digital payment ecosystem and integrate new technologies.
Stablecoin Integration and Digital Payments
Under the MoU SC Financial Technologies and Pakistan State Bank SBP will work together on technical planning regulatory guidance and testing of the USD backed stablecoin for local and international transactions. The integration aims to enhance transparency speed and efficiency of payments while ensuring compliance with financial regulations.
Impact on Freelancers and Exporters
This development is particularly significant for freelancers exporters and small businesses who rely on cross border payments. By using a regulated stablecoin infrastructure these stakeholders can expect lower transaction costs faster fund transfers and greater reliability compared to traditional payment methods.
Government Support and Strategic Significance
During the MoU signing Pakistani government officials highlighted the importance of digital finance financial stability and innovation. The partnership is part of broader efforts to position Pakistan as a hub for fintech solutions and modern digital payments in the region.
Summary
Pakistan has partnered with World Liberty Financial Trump linked fintech to explore a USD1 stablecoin and regulated cross border payment framework. This initiative aims to modernize remittances and digital transactions particularly benefiting freelancers exporters and businesses engaged in international trade.