World Liberty Financial (WLFI), a decentralized finance (DeFi) initiative associated with the Trump family, has entered into a Letter of Intent (LOI) with the Pakistan Crypto Council to foster blockchain technology and the expansion of DeFi in Pakistan, as reported by TechJuice.
This agreement was made official on April 26 during a significant meeting involving WLFI co-founders Zak Folkman, Zach Witkoff, and Chase Herro, along with Pakistan’s Prime Minister and other senior officials.
The collaboration is aimed at speeding up blockchain innovation by creating regulatory testing environments for blockchain-based financial solutions.
WLFI Partnership with Pakistan Aims for DeFi Growth
Focus areas for collaboration include improving DeFi protocols, looking into the tokenization of tangible assets such as real estate and commodities, increasing the use of stablecoins for remittances and trade, and providing strategic insights on blockchain infrastructure and regulatory policies.
“The youth and technology sector of Pakistan are tremendous assets. This partnership is opening new avenues for investment, innovation, and global leadership in the blockchain space,” Finance Minister Muhammad Aurangzeb remarked.
With more than 25 million active crypto users and around $300 billion in yearly crypto transactions, Pakistan is becoming a key player in the digital economy.
The country’s young population—over 64% are under 30—positions it favorably for fast-paced blockchain integration.
Bilal Bin Saqib, CEO of the Pakistan Crypto Council, noted that this partnership is intended to empower Pakistan’s youth and align the nation with the evolving global financial landscape.
Bin Saqib has also recently joined WLFI as an advisor, further solidifying the connection between the two organizations.
Earlier this month, Binance co-founder Changpeng “CZ” Zhao was appointed as a Strategic Advisor to the Pakistan Crypto Council, indicating increasing international interest in Pakistan’s crypto market.
These developments follow reports from The Wall Street Journal that the Trump family is discussing the possibility of acquiring a stake in Binance.US, likely through WLFI.
Steve Witkoff, who is Trump’s lead negotiator and father of WLFI co-founder Zach Witkoff, is said to have led talks with Binance.
Additionally, WLFI has recently launched its USD1 stablecoin on the BNB Chain and Ethereum after a successful $550 million public token sale, marking another advancement in its DeFi expansion.
Pakistan Indicates a Policy Change with Plans for a National Crypto Council
Pakistan’s Finance Ministry is initiating steps toward formal regulations concerning cryptocurrency, which could mark a significant shift from the country’s historically cautious approach to digital assets.
In a recent meeting with an international delegation centered on crypto investment and blockchain growth, Aurangzeb underlined the importance of exploring the sector’s opportunities instead of rejecting them outright.
The delegation comprised prominent figures such as Gentry Beach Jr., an investor who has pledged $1 billion to Pakistan, along with tech entrepreneur Nikita Goldsmith, blockchain consultant Alex Malkov, and Cosmic Wire CEO Jerad Finck.
The envisioned National Crypto Council would act as a government advisory group, uniting regulators, policymakers, and industry leaders to direct the formation of cryptocurrency and blockchain guidelines.
This signifies a notable change from prior government stances. Until recently, both the State Bank of Pakistan and former finance officials were strongly against cryptocurrency adoption, citing financial risks and regulatory ambiguities.
The article titled Trump-Backed WLFI Signs LOI with Pakistan Crypto Council to Enhance Blockchain Adoption first appeared on Cryptonews.
