In a major move set to reshape South Asia’s crypto landscape, World Liberty Financial, backed by Donald Trump, has signed a Letter of Intent with the Pakistan Crypto Council to fast-track blockchain and cryptocurrency adoption across the country.
According to local media outlet Business Recorder, the partnership will see World Liberty Financial assist Pakistan in launching regulatory sandboxes for blockchain product testing, expanding stablecoin use for remittances and trade, exploring real-world asset tokenization, and boosting decentralized finance (DeFi) ecosystems.
The letter was signed during a high-profile meeting that included World Liberty founders Zach Witkoff, Zak Folkman, and Chase Herro, alongside the Pakistan Crypto Council’s CEO Bilal bin Saqib. Prominent government officials such as Pakistan’s central bank governor, finance minister, and IT secretary were also present, highlighting the initiative’s national significance.
Trump and his family have been financial backers of World Liberty since its launch last year, with the former U.S. president receiving a share of its profits.
Pakistan: A Booming Crypto Frontier
Pakistan is quickly emerging as a global crypto hotspot. A report by blockchain analytics firm Chainalysis ranked the country ninth worldwide for crypto adoption in 2023, boasting approximately 25 million active users and annual crypto transactions valued at $300 billion.
The nation’s government, recognizing the potential of its youth-driven economy, where nearly 60% of the population is under 30, is pivoting toward a more crypto-friendly future. Finance Minister Muhammad Aurangzeb commented,
“Pakistan’s youth and technology sector are our greatest assets. Through partnerships like this, we are opening new doors for investment, innovation, and global leadership in the blockchain economy.”
This shift starkly contrasts previous years, especially compared to the hardline stance taken in 2023 when former finance minister Aisha Ghaus Pasha declared that Pakistan would never legalize cryptocurrencies.
Regulatory Innovation and Security Balance
Pakistan’s new pro-crypto approach is not without checks and balances. On April 10, the Federal Investigation Agency (FIA) unveiled a proposed regulatory framework aimed at addressing money laundering, terrorism financing, and strengthening Know Your Customer (KYC) practices.
FIA Director Sumera Azam stated that the framework seeks a
“balance between technological advancement and national security imperatives.”
The regulation is expected to go through legislative scrutiny, with a phased implementation starting in 2026. Importantly, the framework invites input from crypto firms operating locally, signaling a collaborative effort toward responsible innovation.
Adding more star power to the crypto scene, former Binance CEO Changpeng Zhao was recently appointed as an adviser to the Pakistan Crypto Council, further emphasizing the country’s commitment to integrating global expertise into its evolving blockchain ecosystem.
Conclusion
The partnership between World Liberty Financial and the Pakistan Crypto Council marks a pivotal moment for crypto adoption in Pakistan and across South Asia. Combining Trump-backed financial influence with Pakistan’s youthful demographics and technological ambitions could very well transform the country into a major blockchain innovation hub.
As Pakistan moves to balance innovation with regulation, the global crypto community will be watching closely, because the next big blockchain revolution could very well start here.
