Trump-backed World Liberty and Pakistan Crypto Council team up to boost blockchain and DeFi

Key Takeaways

World Liberty Financial and Pakistan Crypto Council are partnering to advance blockchain innovation in Pakistan.
The collaboration aims to launch regulatory sandboxes and explore asset tokenization and stablecoin applications.

World Liberty Financial (WLFI), the DeFi project endorsed by the Trump family, has entered into a Letter of Intent (LOI) with the Pakistan Crypto Council to advance blockchain innovation and DeFi integration across the country, according to a new report from TechJuice.

The agreement was signed on April 26 during a meeting between World Liberty’s co-founders, including Zak Folkman, Zach Witkoff, and Chase Herro, and Pakistan’s Prime Minister and senior officials.

Under the terms of the LOI, World Liberty and the Pakistan Crypto Council will collaborate to launch regulatory sandboxes for testing blockchain-based financial products.

Additional areas of focus include fostering the growth of DeFi protocols, exploring the tokenization of real-world assets such as real estate and commodities, expanding stablecoin applications for remittances and trade, and providing strategic advisory on blockchain infrastructure and global regulatory trends.

“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,” said Finance Minister Muhammad Aurangzeb.

Pakistan currently processes an estimated $300 billion in annual crypto transactions with 25 million active crypto users. The country’s digital economy is supported by a young demographic, with over 64% of its population under 30 years old.

Bilal Bin Saqib, CEO of the government-backed council, said the strategic collaboration is aimed at empowering Pakistan’s young population and integrating the nation “into the future of global finance.”

In addition to his role at the Pakistan Crypto Council, Bilal Bin Saqib joined World Liberty Financial as an advisor last week.

Earlier this month, Changpeng “CZ” Zhao, the co-founder of Binance, was also named Strategic Advisor to the Pakistan Crypto Council.

These developments come amid reports that President Trump’s family has been in discussions to acquire a stake in Binance.US.

According to the Wall Street Journal, Steve Witkoff, Trump’s chief negotiator for Middle East and Ukraine matters and the father of World Liberty’s co-founder, was involved in negotiations with Binance on behalf of the Trump family.

The reported acquisition could be structured either directly or through World Liberty Financial.

CZ publicly criticized the report, dismissing it as an “attack on Trump and crypto.”

World Liberty recently announced the launch of its flagship stablecoin, USD1, on BNB Chain and Ethereum. The announcement followed the successful conclusion of a $550 million public token sale.