World Liberty Financial (WLF), a decentralized finance platform supported by US President Donald Trump, finalized a letter of intent with Pakistan’s Crypto Council on Saturday to enhance blockchain innovation, promote stablecoin adoption, and integrate decentralized finance (DeFi) across the South Asian nation.
The agreement, signed in Islamabad, comes as Pakistan appears to formalize its crypto economy amid rising interest in blockchain technologies.
Pakistan is already among the world’s fastest-growing crypto markets, ranking near the top in global adoption costs, with an expected $300 billion in annual crypto transactions and around 25 million active users.
The government has signaled plans to announce complete cryptocurrency legalization policies quickly, building on its wider digital economy targets fueled by using a largely young population and growing mobile penetration.
A Trump-related organization, DT Marks DEFI LLC, maintains a significant 60% ownership stake in World Liberty Financial Holdco LLC, World Liberty’s parent organization. The arrangement grants them 75% of specified sales streams from cryptocurrency transactions.
Read more: Can Binance founder Changpeng Zhao help Pakistan become a crypto power?
In this venture, the US President holds the position of ‘chief crypto recommend,’ while his offspring maintain prominent roles. Eric and Donald Jr. serve as ‘Web3 Ambassadors,’ and his youngest son, Barron, occupies the placement of ‘DeFi Visionary.’
The agreement represented a giant development in establishing Pakistan as a frontrunner in digital finance innovation and might give a boost to its standing as one of the world’s rapidly increasing cryptocurrency markets, the financial daily’s record stated.
With support from Trump and Binance’s Changpeng Zhao, the Pakistan Crypto Council intends to position the nation as South Asia’s leading cryptocurrency center, vying with markets such as the UAE. This initiative could likely receive Trump’s endorsement, mainly as countries, together with Switzerland, Australia, and South Korea, have declined to establish a cryptocurrency national reserve.