Pakistan Denies Investing in Trump Crypto Firm
Pakistan has denied any Trump crypto firm investment, saying it has not put state money into World Liberty Financial, the cryptocurrency company linked to the family of United States President Donald Trump.
The Pakistan Virtual Assets Regulatory Authority (PVARA) said the country’s engagement with the firm was limited to technical cooperation. It was assessing possibilities linked to the future of financial systems, the regulator told BBC Urdu, according to a report published by ProPakistani on Wednesday.
The denial follows questions in Washington and Islamabad about Pakistan’s ties with the firm. World Liberty Financial was set up by Trump’s sons and the children of Steve Witkoff, the US special envoy for the Middle East. Trump has distanced himself from the company, but its foreign business links have drawn close attention in the United States.
Trump crypto firm investment: what Pakistan said
PVARA said Pakistan’s relationship with World Liberty Financial had remained “primarily limited to technical cooperation and assessing possibilities related to the future of financial systems”. The regulator was clear that no investment had been made.
The links between Pakistan and the firm date back to March 2025, when the government set up the Pakistan Crypto Council. Under the council, Pakistan signed a letter of intent with World Liberty Financial in April 2025. A letter of intent sets out the basic terms and understanding between parties before any final agreement is reached.
On January 14, 2026, Pakistan signed a memorandum of understanding with the company. Prime Minister Shehbaz Sharif, Chief of Defence Forces Field Marshal Asim Munir and World Liberty Financial chief executive Zachary Witkoff attended the signing ceremony.
Company spokesperson David Wachsman told BBC Urdu that an entity linked to World Liberty Financial had signed an agreement with the Pakistani government in 2025, covering work on the possible integration of US dollar-pegged stablecoins into Pakistan’s financial system.
Why the denial matters now
The timing is tied to politics in Washington. Democrats won the US midterm elections, and party members have said they could use congressional powers to examine the Trump family’s cryptocurrency businesses and their foreign connections. Pakistan’s denial puts a clear limit on what the relationship involved.
For Pakistan, the episode sits inside a wider push to build a regulated digital-assets sector. The country set up the Pakistan Crypto Council in March 2025, and PVARA now oversees the sector. A virtual assets alliance was launched in Pakistan to bring industry players together, while PVARA has held talks with Mastercard on tokenisation. A crypto industry body has also been formed to give the sector a single voice.
The stablecoin question is the practical part of the story. Dollar-pegged stablecoins are digital tokens designed to hold a steady value against the US dollar, and weaving them into Pakistan’s payment system could change how money moves across borders. Pakistan has already moved towards tokenised bonds.
What happens next
Nothing in the public record shows that Pakistan has committed funds to World Liberty Financial. The January memorandum is a cooperation document, not an investment, and any move towards stablecoin use would still need rules from PVARA and the State Bank of Pakistan.
The scrutiny in Washington is likely to continue. Democrats won the US midterm elections, and their members have signalled that the Trump family’s crypto dealings will face questions. If that inquiry reaches Pakistan’s links with the firm, the government will face more questions about what was agreed and when.
For now, the official position is simple: technical cooperation, no investment. The full detail of the agreements has not been made public.
Frequently asked questions
Has Pakistan invested in World Liberty Financial?
No, according to PVARA. The regulator said Pakistan has not invested in the company and its engagement was limited to technical cooperation.
What is World Liberty Financial?
It is a cryptocurrency company linked to the family of US President Donald Trump. It was set up by Trump’s sons and the children of Steve Witkoff, the US special envoy for the Middle East.
When did Pakistan start working with the firm?
Links date to March 2025, when Pakistan set up the Pakistan Crypto Council. A letter of intent followed in April 2025, and a memorandum of understanding was signed on January 14, 2026.
What are stablecoins?
Stablecoins are digital tokens designed to hold a steady value, usually pegged to a currency such as the US dollar. World Liberty Financial and Pakistan discussed exploring their use in Pakistan’s financial system.
