World Liberty Financial, a crypto platform backed by former U.S. President Donald Trump, has entered into a strategic partnership with the Pakistan Crypto Council. This collaboration aims to accelerate the adoption of blockchain technology, decentralized finance (DeFi), and stablecoin solutions within Pakistan. The partnership was formalized through a Letter of Intent signed by world liberty financial founders Zach Witkoff, Zak Folkman, and Chase Herro, along with Pakistan Crypto Council CEO Bilal bin Saqib. Notable attendees at the signing ceremony included Pakistan’s central bank governor, finance minister, and IT secretary, underscoring the significance of this initiative.

Under the terms of the partnership, World Liberty Financial will assist the Pakistan Crypto Council in launching regulatory sandboxes to test blockchain-based products. This will facilitate the expansion of stablecoin applications for remittances and trade, as well as the exploration of real-world asset tokenization. Additionally, the collaboration will support the growth of decentralized finance protocols, positioning Pakistan as a leader in the blockchain economy.

Pakistan’s young population, with roughly 60% under the age of 30, is seen as a key asset in driving this technological advancement. Finance Minister Muhammad Aurangzeb highlighted the potential of Pakistan’s youth and technology sector, stating that partnerships like this one open new doors for investment, innovation, and global leadership in the blockchain economy.

The Pakistan Crypto Council, a government-backed body, oversees crypto regulation and related initiatives aimed at driving adoption and attracting foreign investment. The council’s recent appointment of former Binance CEO Changpeng Zhao as an adviser further underscores its commitment to fostering a crypto-friendly environment. Zhao will assist the country in navigating crypto regulation and innovation, ensuring a balanced approach that addresses concerns over terrorism financing, money laundering, and Know Your Customer controls.

The Federal Investigation Agency of Pakistan has also proposed a comprehensive crypto regulatory framework, which is subject to legislative approval and input from crypto firms operating in the country. This framework is expected to roll out in phases, beginning in 2026, and aims to strike a balance between technological advancement and national security imperatives.

This partnership marks a significant shift in Pakistan’s stance on cryptocurrencies, contrasting sharply with its previous position in May 2023, when the country stated it would never legalize cryptocurrencies due to concerns over bypassing Financial Action task Force regulations. The new crypto-friendly approach reflects Pakistan’s ambition to leverage its young population and technological prowess to become a global leader in the blockchain economy.