Pakistan has signed a deal with a firm linked to World Liberty Financial, connected to U.S. President Trump’s family, to explore using World Liberty’s stablecoin for cross-border payments. This marks one of the first tie-ups between World Liberty and a sovereign state, amid warming Pakistan-U.S. relations.

Under the agreement, World Liberty Financial will integrate its USD1 stablecoin into Pakistan’s digital payments structure alongside its own currency infrastructure. Details of the deal with SC Financial Technologies, associated with World Liberty, are expected to be announced during a visit by CEO Zach Witkoff to Islamabad.

Stablecoins, digital tokens pegged to the dollar, have surged in value recently. The U.S. under Trump introduced rules supporting the sector, prompting countries to consider stablecoins in payments and financial systems. World Liberty’s stablecoin has boosted income for Trump’s family business, with entities like MGX using it for investments.

Pakistan is looking into digital currency projects to reduce cash usage and enhance cross-border payments like remittances. The central bank is preparing to launch a digital currency pilot and finalize regulations for virtual assets. This move aligns with the global trend of exploring the potential of stablecoins in financial systems.

Read more at Yahoo Finance: Exclusive-Pakistan to partner with World Liberty Financial on dollar-linked stablecoin, source says