In a key decision in the development of the financial technology sector in Pakistan, Pakistan Crypto Council (CPC) and World Liberty Financial (WLF) officially signed a series of agreements to promote investment and innovation in cryptographic industry.
The signature ceremony held on Saturday was followed by the Minister of Information, Ata Tarar, CEO of Pakistan Crypto Council Bilal Bin Saeed, the co -president of the WLF Zack Vetkoff and other officials.
According to a press release from the Ministry of Finance, the American delegation included Zachary Folkman, Chase Herro and Zachary Witkoff, the son of Trump’s special envoy, Steve Witkoff.
“(Le) WLF … has signed a historical letter of intention with the PCC to accelerate blockchain innovation, the adoption of Stablecoin and the integration of decentralized finances across Pakistan,” he said.
The delegation also met the Prime Minister, the chief of staff of the army, the Deputy Prime Minister, the Information and Defense Ministers to formalize cooperation, “marking a major stage towards the positioning of Pakistan as the world leader in the digital finance revolution”.
The agreements should facilitate greater cooperation between the two organizations, promote innovation in cryptographic space and encourage international investments in the digital economy in Pakistan.
Addressing the media, the dignitaries stressed the importance of agreements and the growing potential of the cryptography market in Pakistan.
Tarar stressed that the establishment of Pakistan Crypto Council marks a central step towards the adoption of emerging technologies. “Pakistan offers enormous opportunities in the cryptography sector,” he said. “Although he is a relatively new player, Pakistan has made remarkable progress in a short time.”
He also noted that Pakistan has attractive investment opportunities in various sectors, and initiatives like these will help accelerate economic growth and technological progress.
Meanwhile, Vetkoff praised Pakistan’s economic potential, declaring: “Pakistan is one of the fastest emerging savings. We are delighted to be part of its trip to a dynamic financial future.”
Dawn reported that WLF is a decentralized financial platform supported by President Donald Trump to advance cryptocurrency and stimulate the adoption of blockchain. Trump and his affiliates have 60% stake in WLF, which was launched last year.
The American president has promised to regulate the industry favorably and his administration has mitigated the implementing measures against several major players in the industry.
According to the ministry’s press release, the agreement has occurred while the government has reported its intention to soon announce policies for the legalization of complete cryptography, to strengthen “the position of Pakistan as one of the cryptographic markets that increase the world to the world”.
“The scope of cooperation between (the) PCC and the WLF describes collaboration in key areas, in particular: the launch of regulatory sand stores for the tests of blockchain financial products; Facilitate responsible growth in DEFI protocols (decentralized financing) ”.
“The exploration (the) tokenization of active active people such as real estate and basic products; expand requests for discounts for sending funds and trade; and provide strategic advice on blockchain infrastructure and global regulatory trends,” the press release said.
