Pakistan and SC Financial Technologies LLC, an affiliate of World Liberty Financial, signed a memorandum of understanding (MoU) on Wednesday to establish a structured dialogue and technical understanding of emerging digital payment architectures for cross-border transactions.
The agreement was signed by Pakistan’s Minister for Finance Muhammad Aurangzeb and World Liberty Financial Chief Executive Officer Zachary Witkoff. The signing ceremony was witnessed by Prime Minister Muhammad Shehbaz Sharif and Chief of the Army Staff Field Marshal Syed Asim Munir following a meeting with a high-level delegation from the U.S.-based firm.
The delegation, led by Witkoff, met with the Prime Minister in Islamabad to discuss the development of a secure and transparent digital payment infrastructure. The meeting was also attended by Deputy Prime Minister Mohammad Ishaq Dar, Minister for Finance Muhammad Aurangzeb, Special Assistant to the Prime Minister Syed Tariq Fatemi, and Chairman of the Pakistan Virtual Assets Regulatory Authority Bilal Bin Saqib.
During the discussions, Sharif shared his vision for a “digital Pakistan,” which he said is aimed at increasing connectivity, access, transparency, and openness for citizens. The Prime Minister stated that the rapidly growing pace of digital payments and financial innovation are essential components of Pakistan’s expanding digital economy.
Sharif expressed satisfaction that Pakistan is becoming part of global digital finance, noting what he described as growing international interest in the country’s digital financial markets.
Witkoff said his firm has a keen interest in engaging with Pakistan on innovations in cross-border settlement and foreign exchange processes. He lauded Pakistan’s policy framework, which he said is helping to position the country as a leading contender in the global digital finance landscape. Witkoff expressed a desire to further deepen engagement with Pakistanto explore next-generation digital payment and cross-border finance innovations.
The MoU with SC Financial Technologies LLC is intended to facilitate technical cooperation on the digital payment frameworks required to support these transactions.
