Islamabad: Pakistan has signed a Memorandum of Cooperation with the United States to devise a regulatory framework regarding cryptocurrency. A Letter of Intent was signed between the Pakistan Crypto Council and the US company, World Liberty Financial, in Islamabad on Saturday.
According to Radio Pakistan, under the agreement, World Liberty Financial will assist Pakistan with tokenization, blockchain innovation, stable-coin adoption, and decentralized finance integration. Attaullah Tarar, the Minister for Information and Broadcasting, who witnessed the signing ceremony, stated that Pakistan has significant potential in the field of crypto. Regularizing it will aid in digitizing and regularizing the cash flow worth billions of dollars, which comes in the form of remittances. The Minister emphasized that Pakistan is open for business and investments.
Members of World Liberty Financial’s delegation expressed that this cooperation would enable Pakistan to advance into the digital age. They noted that the transition to digitalization will help propel Pakistan’s economy to the forefront of the global economy. Pakistan’s proactive approach demonstrates its commitment to embracing the next wave of financial innovation.
Pakistan offers one of the world’s most promising digital economies, with over 64 percent of its population under the age of 30. The country ranks among the top in global crypto adoption, with an estimated 300 billion dollars in annual crypto transactions and 25 million active crypto users. With rising mobile penetration, a vibrant freelance economy, and strong government interest in blockchain, Pakistan’s youth are uniquely positioned to drive the next wave of Web3 innovation.
In a statement regarding this development, Finance Minister Muhammad Aurangzeb remarked that Pakistan’s youth and technology sector are the country’s greatest assets. Through partnerships like this, new doors for investment, innovation, and global leadership in the blockchain economy are being opened. CEO of the Pakistan Crypto Council, Bilal Bin Saqib, highlighted that the collaboration with World Liberty Financial is a strategic move to empower the young population and integrate Pakistan into the future of global finance.