Amid escalating tensions between India and Pakistan following a deadly terrorist attack in Kashmir, U.S. President Donald Trump’s family-backed World Liberty Financial (WLF) has forged a significant partnership with the Pakistan Crypto Council (PCC). This move comes at a time when Trump has expressed full support for India while simultaneously engaging with Pakistan on the blockchain front.
World Liberty Financial, a decentralized finance (DeFi) platform, has made its foray into Pakistan, aiming to foster blockchain innovation in the region. The company, in which Trump and his family hold a 60% stake, is seeking to accelerate the use of blockchain technology in the South Asian country. On Sunday, WLF’s co-founders—Zach Witkoff, Zak Folkman, and Chase Hero—arrived in Islamabad, where they were greeted by Bilal Bin Saqib, CEO of the PCC.
The partnership, formalized through a letter of intent, focuses on expanding blockchain applications, including stablecoins and the tokenization of assets such as real estate and commodities. The collaboration aims to enhance Pakistan’s blockchain infrastructure and promote the responsible growth of DeFi protocols.
This development unfolds amid the ongoing crisis in Kashmir, where a terrorist attack in Pahalgam, Jammu and Kashmir, claimed the lives of 26 tourists and injured many more. India has accused Pakistan of harboring terrorist groups responsible for the attack. In response, President Trump expressed condolences to India and offered his “full support.” However, in a more recent statement, he noted his close ties with both India and Pakistan and urged both nations to resolve their issues amicably.
World Liberty Financial, launched in September 2024, is a DeFi platform designed to provide lending and borrowing services through its native token, $WLFI. The platform allows users to earn interest on their cryptocurrency holdings or take loans against their assets. Trump’s family owns a significant stake in WLF, which raised $500 million in funding earlier this year. Trump himself holds the role of “chief crypto advocate,” while his son Barron Trump is designated as a “DeFi visionary,” with Eric Trump and Donald Trump Jr. serving as “Web3 ambassadors.”
The partnership between WLF and PCC comes on the heels of a major appointment within the Pakistani crypto space. Changpeng Zhao, the founder of the Binance cryptocurrency exchange, was recently appointed as a strategic advisor to the PCC. The agreement between WLF and PCC aims to launch regulatory sandboxes for testing blockchain financial products, promote the use of stablecoins for remittances and trade, and explore tokenization in various sectors, including real estate.
Pakistan is home to over 25 million active crypto users, but like India, it has yet to implement clear regulatory frameworks for digital currencies.
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