World Liberty Financial (WLF) and Pakistan Crypto Council (PCC) have signed an agreement to establish a framework to accelerate blockchain innovation and cryptocurrency integration in Pakistan, as per a press release. The American entity's tie up with a Pak-based crypto firm raises concerns as WLF operates as a decentralized finance platform with backing from US President Donald Trump's business interests, which control approximately 60 percent of the enterprise launched last year.
Since his return to the Oval Office, Trump has promised favourable sops to expand cryptocurrency applications, easing of regulations and enforcement against big crypto players in order to promote wider Blockchain adoption globally. However, this tie up between Trump-backed company and Pak establishment assumes significance as it comes days after Pahalgam attack where Pakistan-backed terror outfit Lashkar-e-Taiba's offshoot The Resistance Front's terrorists gunned 26 innocent Indians.WLF-PCC tie up
The formal signing ceremony, that was held in Islamabad on Saturday, had the blessings of the Pak government, evident from the fact that the event featured Information Minister Ata Tarar, alongwith PCC Chief Executive Bilal Bin Saeed, and WLF co-chairman Zack Vetkoff. Also, the visiting delegation met Pakistani Prime Minister, army chief, deputy prime minister, and ministers of information and Defence.
As per a statement released by the Pak finance ministry, the American delegation included Zachary Folkman, Chase Herro, and Zachary Witkoff — the son of Trump administration special envoy Steve Witkoff — signaling strong US interest in the country's digital finance potential.
The release stated: “(The) WLF ... has signed a landmark Letter of Intent with the PCC to accelerate blockchain innovation, stablecoin adoption and decentralised finance integration across Pakistan.”
Vetkoff described Pakistan as "one of the fastest-emerging economies" with significant untapped potential in digital finance.
Trump and his family's stake in World Liberty Financial
As per the WLF's official website, DT Marks DEFI LLC — an entity connected to President Trump and certain family members — controls approximately 60 percent of the equity interests in WLF Holdco LLC. This holding company maintains the sole membership interest in World Liberty Financial, Inc., a Delaware non-stock corporation developing the WLF protocol and operating its governance platform.
It also discloses that neither the US President, his family members, nor any officials from Trump Organization or DT Marks LLC serve as officers, directors, or employees of WLF Holdco LLC or World Liberty Financial, Inc. The sole exception identified is president's son Eric Trump, who holds a position as one of the managers on WLF Holdco LLC's board of managers.
DT Marks DEFI LLC, along with certain Trump family members, holds 22.5 billion $WLFI tokens. However, it emphasizes that references, quotes, or imagery associated with President Trump or his family members should not be interpreted as an "endorsement or representation or warranty with respect to any product or service offering".
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