A Controversial Alliance: World Liberty Financial and Pakistan’s Crypto Ambitions
In a move that has sparked considerable debate and raised eyebrows across the globe, the newly formed Pakistan Crypto Council (PCC) has entered into a significant agreement with World Liberty Financial (WLF), a cryptocurrency firm with substantial ties to a prominent US family. This partnership, forged with the aim of transforming Pakistan into a major cryptocurrency hub in South Asia, comes at a delicate time of heightened regional tensions and has drawn scrutiny from various quarters.
The Pakistan Crypto Council, established in March 2025, is a government-backed initiative with the ambitious goal of regulating and integrating blockchain technology and digital assets into Pakistan’s financial landscape. Chaired by the Minister of Finance, Muhammad Aurangzeb, the PCC aims to formulate policies, foster innovation, and ensure a secure approach to cryptocurrency adoption within the country. The appointment of Binance co-founder Changpeng Zhao as a strategic advisor further underscored the council’s intent to gain credibility and expertise in the crypto space.
World Liberty Financial, on the other hand, is a relatively new decentralized finance (DeFi) protocol and cryptocurrency company founded in 2024. What sets WLF apart is its direct association with a well-known US family, who reportedly hold a 60% stake in the venture. This connection has been heavily advertised by WLF and has become a focal point of the discussions surrounding their agreement with Pakistan.
The agreement between the PCC and WLF, formalized through a Letter of Intent in April 2025, outlines a comprehensive collaboration aimed at bolstering Pakistan’s digital finance sector. Key aspects of the partnership include:
- Establishing regulatory sandboxes: Creating controlled environments for testing blockchain-based financial products and services.
- Expanding stablecoin usage: Promoting the use of stablecoins for trade and remittances within Pakistan.
- Tokenization of assets: Exploring the possibility of representing real-world assets, such as real estate and commodities, as digital tokens on the blockchain.
- Decentralized Finance (DeFi) integration: Developing pilot projects and providing guidance on DeFi protocols.
According to joint statements, the overarching objective of this collaboration is to enhance financial inclusion and drive digital transformation across Pakistan. The PCC has expressed its ambition to position Islamabad as the “crypto capital of South Asia,” competing with established hubs like the UAE. Data from 2024 indicated that Pakistan already held a significant position in cryptocurrency adoption globally, with a substantial number of active users and transaction volume.
However, this alliance has not been without controversy. The timing of the agreement, shortly before a deadly terror attack in Pahalgam and the subsequent retaliatory actions, has led to intense scrutiny, particularly in India. Reports have highlighted the involvement of high-profile individuals, including Pakistan’s army chief, General Asim Munir, in facilitating the deal. These reports suggest that a high-level team from WLF met with the Prime Minister and the army chief in Islamabad to finalize the agreement.
Concerns have been raised about potential conflicts of interest, given the significant ownership stake of the prominent US family in WLF and their known interest in mediating peace between India and Pakistan. The convergence of this business deal with the delicate geopolitical situation has led many to question the underlying motives and potential implications of this partnership.
In response to the growing unease, World Liberty Financial issued a press note asserting that the agreement is purely economic and devoid of any political intent. However, as of today, there has been no official comment from the involved US family or their representatives.
Despite the controversy, the agreement signifies Pakistan’s serious intent to embrace the digital economy and position itself as a key player in the cryptocurrency space. The establishment of the Pakistan Crypto Council and its partnership with World Liberty Financial represent a bold step towards achieving this vision. Whether this alliance will successfully navigate the geopolitical complexities and achieve its intended economic goals remains to be seen. The world will be watching closely as Pakistan embarks on this ambitious crypto journey.