World Liberty Financial (WLFI), a DeFi initiative backed by former President Donald Trump, has partnered with the Pakistan Crypto Council (PCC) to bolster blockchain innovation in Pakistan. On April 26, WLFI co-founders Zachary Witkoff and Zachary Folkman signed a Letter of Intent with the PCC, highlighting their shared goal of accelerating technological advancements in the region. Bilal Bin Saqib, the CEO of the PCC, described the collaboration as a strategic initiative that aims to empower the country’s youth and position Pakistan within the evolving global financial landscape. The collaboration includes the establishment of regulatory sandboxes to test various Web3 products, along with tokenization experiments and the integration of stablecoins for remittance and trade purposes.
This partnership is significantly influenced by Binance CEO Changpeng Zhao (CZ), who was recently appointed as a strategic advisor to the PCC. Following this appointment, WLFI representatives met with CZ in Abu Dhabi to discuss enhancing global crypto adoption. During these discussions, they explored ideas for establishing new standards in the cryptocurrency space. Bin Saqib reiterated the importance of collaboration with industry leaders, emphasizing the potential for Pakistan to serve as a global case study in utilizing blockchain technology to create transformative opportunities for emerging markets.
As the partnership progresses, the focus will be on practical cryptocurrency experiments resulting from this agreement. Additionally, WLFI is eyeing expansion through several initiatives, including the launch of a stablecoin, USD1. Recent data indicates that WLFI holds approximately $103 million in cryptocurrency assets, primarily consisting of USDC, wrapped Bitcoin, and Ethereum. As this partnership unfolds, the world will be watching for innovative developments emerging from Pakistan’s crypto ecosystem.