Pakistan signs MOU with World Liberty Financial to explore USD1 stablecoin
Pakistan's regulator signed an MoU with World Liberty Financial to explore integrating the USD1 stablecoin into its cross-border payments.Summary
The Pakistan Virtual Assets Regulatory Authority announced that World Liberty Financial signed a Memorandum of Understanding (MoU) with the Ministry of Finance to explore integrating the USD1 stablecoin into Pakistan's formal cross-border payments infrastructure. This partnership aims to innovate digital finance, specifically using stablecoins for cross-border transactions, with World Liberty Financial collaborating with the central bank to integrate USD1 within a regulated digital payments framework. The USD1 stablecoin, backed 1:1 by U.S. dollars and Treasurys, has been expanding its presence across major exchanges like Binance. This move follows World Liberty Financial's recent application to establish a national trust bank for USD1 operations and the launch of its lending platform, World Liberty Markets, which quickly surpassed $50 million in total value locked.
(Source：The Block)