World Liberty Financial (WLFI), a decentralized finance (DeFi) project endorsed by the Trump family, has signed a Letter of Intent (LOI) with the Pakistan Crypto Council to promote blockchain adoption and DeFi growth across Pakistan, TechJuice reported.
The agreement was formalized on April 26 during a high-level meeting between WLFI co-founders Zak Folkman, Zach Witkoff, and Chase Herro, alongside Pakistan’s Prime Minister and senior government officials.
The partnership aims to accelerate blockchain innovation by establishing regulatory sandboxes to test blockchain-based financial solutions.
WLFI Partnership with Pakistan Targets DeFi Growth
Key areas of collaboration include advancing DeFi protocols, exploring tokenization of real-world assets like real estate and commodities, expanding stablecoin use for remittances and trade, and offering strategic guidance on blockchain infrastructure and regulatory frameworks.
“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,” stated Finance Minister Muhammad Aurangzeb.
With over 25 million active crypto users and approximately $300 billion in annual crypto transactions, Pakistan is emerging as a significant player in the digital economy.
The country’s youthful demographic—over 64% under the age of 30—positions it well for rapid blockchain adoption.
Bilal Bin Saqib, CEO of the Pakistan Crypto Council, highlighted that the collaboration is designed to empower Pakistan’s young population and integrate the country into the evolving landscape of global finance.
Bin Saqib also recently joined WLFI as an advisor, further strengthening ties between the two entities.
Earlier this month, Binance co-founder Changpeng “CZ” Zhao was appointed Strategic Advisor to the Pakistan Crypto Council, signaling growing international interest in Pakistan’s crypto sector.
These developments follow reports from The Wall Street Journal suggesting that the Trump family has been in talks to acquire a stake in Binance.US, potentially through WLFI.
Steve Witkoff, Trump’s chief negotiator and father of WLFI co-founder Zach Witkoff, reportedly led discussions with Binance.
Meanwhile, WLFI recently launched its USD1 stablecoin on BNB Chain and Ethereum, following a $550 million public token sale—marking another milestone in its expanding DeFi footprint.
Pakistan Signals Policy Shift with Plans for National Crypto Council
Pakistan’s Finance Ministry is taking steps toward formal cryptocurrency regulation, which could significantly change the country’s historically cautious stance on digital assets.
In a meeting last month with an international delegation focused on crypto investment and blockchain development, Aurangzeb emphasized the importance of exploring the sector’s potential rather than dismissing it outright.
The delegation included notable figures such as Gentry Beach Jr., a key investor who has pledged $1 billion in funding to Pakistan, along with tech entrepreneur Nikita Goldsmith, blockchain consultant Alex Malkov, and Cosmic Wire CEO Jerad Finck.
The proposed National Crypto Council would function as a government advisory body, bringing together regulators, policymakers, and industry stakeholders to guide the development of cryptocurrency and blockchain regulations.
This marks a clear shift from previous government positions. Until recently, both the State Bank of Pakistan and former finance officials firmly opposed cryptocurrency adoption, citing financial risks and regulatory uncertainty.
The post Trump-Backed WLFI Signs LOI with Pakistan Crypto Council to Boost Blockchain Adoption appeared first on Cryptonews.
Credit: Source link
