Pakistan will work with World Liberty Financial, a decentralised finance company linked to the family of U.S. President Donald Trump, to build a digital payment system, Cointelegraph reported on Jan. 13.
The cooperation centres on supporting cross-border payments using World Liberty Financial's USD1 stablecoin.
The project, led by SC Financial Technologies, is World Liberty Financial's first collaboration with a sovereign state. SC Financial Technologies plans to work with Pakistan's central bank to build a regulated digital payments framework.
World Liberty Financial drew attention in May last year when the USD1 stablecoin was used in a deal in which Abu Dhabi state investment company MGX bought a $2 billion stake in Binance. More recently, it also introduced an on-chain lending platform, World Liberty Market, based on the USD1 stablecoin and the WLFI governance token.
Chi-gyu Hwang
delight@d-today.co.kr