World Liberty Financial (WLF), a top decentralized finance (DeFi) platform that is connected to former US President Donald Trump, has signed a historic partnership agreement with the Pakistan Crypto Council (PCC).
The partnership was sealed in a Letter of Intent (LoI) last weekend and is designed to drive the penetration of blockchain technology and the use of stablecoins throughout Pakistan.
The agreement was clinched in a top leadership meeting between WLF members and the country’s most prominent officials, such as the prime minister, chief of the army staff, and various ministers.
WLF’s team, including Zachary Folkman, Zachary Witkoff, and Chase Herro, met to discuss the cooperation terms. They focused on making Pakistan a world-leading hub for digital finance.
This partnership indicates Pakistan’s commitment to creating a robust digital economy. The government stated that it would publish a complete policy on the legalization of cryptos very shortly. It will make Pakistan one of the world’s fastest-growing crypto markets.
Pakistan is already a key player in the world of crypto. The country is the global champion of crypto use, seeing $300 billion of transactions every year. It also has approximately 25 million cryptocurrency holders.
Binance’s founder becomes advisor to Pakistan crypto council
Along with the LoI, the founder of Binance, Changpeng Zhao (CZ), was also made a strategic advisor at the Pakistan Crypto Council.
Through this advisory position, the nation will be navigated through the intricacies of blockchain infrastructure development, cross-border regulations, and the development of DeFi.
WLF and PCC collaborate to create sandboxes for regulating blockchain-based financial products. This partnership establishes multiple domains of cooperation.
The sandboxes will allow DeFi protocols to expand safely. They will explore the tokenization of physical assets like property and commodities. Additionally, they will develop the use of stablecoins in remittances and trade.
The Pakistani leadership is upbeat about the potential of this partnership. Our youth and technology sector is our strongest asset.
The alliance opens new avenues of investment and world leadership in blockchain technology,” Finance Minister Muhammad Aurangzeb said.
Nonetheless, Pakistan Crypto Council CEO Bilal Bin Saqib supported the government’s position. He underlined the strategic significance of this association in forming Pakistan’s role within global finance.
