Trump-backed WLFI’s USD1 Stablecoin Is Coming to Pakistan: Key Details Explained

Core Insights - Pakistan's stance on cryptocurrency has shifted from opposition to integration, reflecting a broader global trend towards acceptance of digital assets [1][2] Group 1: Agreement and Integration - Pakistan signed an agreement with a company affiliated with World Liberty Financial (WLFI) to integrate its USD1 stablecoin into the regulated payments system [2][3] - The deal, executed through SC Financial Technologies, represents a significant partnership between a decentralized finance firm and a sovereign state [3][4] Group 2: Regulatory Oversight and Objectives - The USD1 stablecoin is expected to operate under regulatory oversight, coexisting with Pakistan's emerging digital finance infrastructure [4] - The initiative aims to enhance cross-border payments, particularly remittances, which are crucial for Pakistan's economy [5][6] Group 3: Economic Impact - Overseas Pakistanis send over $30 billion annually, and the integration of a regulated stablecoin is anticipated to lower fees, accelerate settlement times, and improve transparency in these transactions [6][7] - Pakistan is also pursuing broader reforms, including drafting comprehensive virtual asset regulations and preparing for its own central bank digital currency (CBDC) [6]