World Liberty Partners with Pakistan Crypto Council to Boost Crypto Adoption

World Liberty Financial, a venture backed by former U.S. President Donald Trump, has entered into a strategic partnership with the Pakistan Crypto Council. This collaboration aims to accelerate the adoption of cryptocurrencies and blockchain technology in Pakistan. The scope of this partnership includes the launch of regulatory sandboxes for blockchain financial services, fostering innovation in decentralized finance (DeFi), and promoting the overall growth of the crypto industry in the region.

The Letter of Intent signed by World Liberty and the Pakistan Crypto Council outlines several key areas of cooperation. These include the establishment of regulatory sandboxes, which will provide a controlled environment for testing blockchain-based financial services without the need for full regulatory compliance. This initiative is expected to encourage innovation and help develop a robust regulatory framework for the crypto industry in Pakistan.

The partnership also focuses on promoting DeFi, a financial system that operates on blockchain technology and eliminates the need for intermediaries such as banks. By fostering DeFi, World Liberty and the Pakistan Crypto Council aim to create a more inclusive and efficient financial ecosystem in Pakistan. This collaboration is part of a broader effort to integrate blockchain technology into the country's financial infrastructure, potentially leading to increased financial inclusion and economic growth.

The alliance between World Liberty and the Pakistan Crypto Council is significant as it brings together the expertise and resources of a globally recognized financial venture with the local knowledge and regulatory insights of the Pakistan Crypto Council. This partnership is expected to drive the development of blockchain and crypto technologies in Pakistan, positioning the country as a leader in the region's burgeoning crypto industry.

The collaboration is also expected to attract international attention and investment, further boosting Pakistan's standing in the global crypto community. By working together, World Liberty and the Pakistan Crypto Council aim to create a supportive environment for crypto innovation, ultimately benefiting both the local economy and the global crypto market.

World Liberty founders Zach Witkoff, Zak Folkman, and Chase Herro signed the letter in a recent meeting with the Council’s CEO Bilal bin Saqib, with Pakistan’s central bank governor, finance minister, and IT secretary among those in attendance. The presence of high-ranking officials underscores the government's commitment to fostering a crypto-friendly environment while ensuring regulatory compliance.

Pakistan's Finance Minister Muhammad Aurangzeb highlighted the country's young population as a key asset in driving crypto adoption. With roughly 60% of the population under 30, Pakistan is well-positioned to leverage blockchain technology for economic growth and innovation. The minister emphasized that partnerships like this one with World Liberty are opening new doors for investment, innovation, and global leadership in the blockchain economy.

In addition to the partnership with World Liberty, the Pakistan Crypto Council has also appointed former Binance CEO Changpeng Zhao as an adviser to assist the country on crypto regulation and innovation. This move further solidifies Pakistan's commitment to embracing blockchain technology while ensuring a balanced approach to regulation and security.

The Federal Investigation Agency of Pakistan proposed a crypto regulatory framework on April 10, which aims to address terrorism financing, money laundering, and Know Your Customer controls. The framework is part of a broader effort to strike a balance between technological advancement and national security imperatives. The proposed framework is subject to legislative approval and input from crypto firms operating in the country, with an expected multi-phased rollout beginning in 2026.

This new crypto-friendly approach by Pakistan contrasts sharply with its previous stance in May 2023, when the country stated it would never legalize cryptocurrencies due to concerns over bypassing Financial Action Task Force regulations. The shift in policy reflects a growing recognition of the potential benefits of blockchain technology and the need for a more nuanced regulatory approach.