In a dramatic financial move following the recent terror incident in Pahalgam, Pakistan has inked a high-profile cryptocurrency partnership with World Liberty Financial (WLF), a decentralized finance (DeFi) firm tied to former U.S. President Donald Trump’s family.
The deal was signed between WLF and the newly launched Pakistan Crypto Council — a group established just weeks ago with ambitions of transforming Islamabad into South Asia’s top digital asset hub. Lending star power and credibility to the initiative, Binance founder Changpeng Zhao (CZ) has joined the Council as a strategic advisor, according to a report from the Times of India.
This landmark pact focuses on expanding blockchain infrastructure, encouraging stablecoin usage, and integrating DeFi services throughout Pakistan’s financial ecosystem. A statement released by Dawn described the development as a “pivotal milestone in positioning Pakistan at the forefront of the global digital finance wave.”
World Liberty Financial, where members of the Trump family — including Eric Trump, Donald Trump Jr., and Jared Kushner — control a 60% stake, is expected to invest heavily in Pakistan’s crypto sector. The involvement of these figures has reignited debates over the intersection of politics and private enterprise, given their previous ties to the U.S. government.
Real estate magnate Steve Witkoff, a close Trump ally and influential figure in Washington, D.C., is also believed to be a behind-the-scenes force in the deal, frequently spotted at Trump’s Mar-a-Lago resort.
The collaboration emerges as Donald Trump’s financial activities face increasing examination. As reported by The New York Times, World Liberty Financial underscores a growing convergence between Trump’s political influence and his personal business interests.
“Mr Trump’s return to the White House has opened lucrative new pathways for him to cash in on his power, whether through his social media company or new overseas real estate deals,” The New York Times reported.
“But none of the Trump family’s other business endeavours pose conflicts of interest that compare to those that have emerged since the birth of World Liberty. The firm, largely owned by a Trump family corporate entity, has erased centuries-old presidential norms, eviscerating the boundary between private enterprise and government policy in a manner without precedent in modern American history,” it added.
The Pakistan Crypto Council, emboldened by support from WLF and CZ, plans to challenge regional crypto powerhouses like the UAE. Pakistan already boasts a strong foundation — Chainalysis’ 2024 report ranks the country 9th in global crypto adoption, with an estimated 25 million active users and $300 billion in yearly transaction volume. India currently leads the rankings.
With this bold move, Pakistan is not only betting big on blockchain but also signaling its intention to play a leading role in shaping the future of digital finance in Asia.