Pakistan has partnered with a company affiliated with Trump-linked World Liberty Financial (WLFI) to explore innovation in digital finance and the use of stablecoins for cross-border transactions.
Pakistan To Explore USD1 For Cross-Border PaymentsOn Wednesday, Pakistan announced it had signed a memorandum of understanding (MoU) with a crypto firm linked to the Trump Family’s main crypto business, World Liberty Financial.
The memorandum is set to enable “dialogue and technical understanding around emerging digital payment architectures,” and was announced during WLFI founder and CEO Zach Witkoff’s visit to Pakistan.
Notably, Witkoff is also the CEO of SC Financial Technologies, which co-owns the USD1 stablecoin brand alongside World Liberty Financial, according to documentation on the stablecoin’s reserves reviewed by the news media outlet.
“Our focus is to stay ahead of the curve by engaging with credible global players, understanding new financial models, and ensuring that innovation, where explored, is aligned with regulation, stability, and national interest,” said Pakistan’s Finance Minister Muhammad Aurangzeb.
WLFI Faces New Conflict Of Interest ConcernsAccording to the Tuesday letter, Warren’s concerns have gone from being “hypothetical,” as Gould reportedly called them, to being a reality. The senator argued that if the application is approved, the OCC would promulgate rules that “influence the profitability of the President’s company” and would also be responsible for “directly supervising and enforcing the law against the President’s company—and its competitors.”
Therefore, Warren requested that the OCC delay World Liberty Financial’s review until US President Donald Trump divests and eliminates all financial conflicts of interest involving himself or his family members and the company.
