Pakistan Virtual Asset Regulatory Authority Signs MoU with WLFI Affiliate to Study USD1 Stablecoin for Cross-Border Payments

Pakistan Virtual Asset Regulatory Authority Signs MoU with WLFI Affiliate to Study USD1 Stablecoin for Cross-Border Payments

PVARA collaborates with SC Financial Technologies to explore the potential use of a USD-pegged stablecoin in cross-border transactions, with no commitment to domestic adoption.

USD1

Fact Check
The assessment that the statement is 'likely_true' with high confidence is based on strong, consistent evidence from multiple sources. The most authoritative source, a Reuters exclusive report, directly confirms the partnership between Pakistan and World Liberty Financial for a dollar-linked stablecoin. Although it cites an unnamed source, Reuters' high journalistic standards lend significant weight to this claim. This primary piece of evidence is corroborated by two other independent sources. A post from crypto-focused news outlet Cointelegraph explicitly mentions a 'Pakistan Deal' involving World Liberty Financial and stablecoins. Additionally, a news article on the Phemex exchange website reiterates the partnership and specifies its purpose is to explore stablecoin use for cross-border payments, aligning perfectly with the statement. While the Wikipedia and official X profile for World Liberty Financial do not mention the partnership, they do not contradict it either; they are simply neutral or non-informative on this specific topic. The convergence of information from a high-authority international news agency and other relevant industry news outlets, with no conflicting evidence presented, makes a compelling case for the statement's truthfulness.
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Summary

The Pakistan Virtual Asset Regulatory Authority (PVARA) signed an MoU with SC Financial Technologies, a subsidiary of World Liberty Financial, to explore the USD1 stablecoin for cross-border payments. The agreement focuses on technical collaboration and regulatory discussions, with no obligation for domestic deployment or integration in Pakistan.

Terms & Concepts
  • Stablecoin: A cryptocurrency pegged to a stable asset, such as the U.S. dollar, designed to minimize price volatility.
  • USD1 stablecoin: A U.S. dollar–pegged stablecoin referred to as USD1, under study for potential use in cross-border payments.