Pakistan’s agreements with a cryptocurrency company linked to US President Donald Trump’s family have attracted renewed attention. The development comes as Democratic lawmakers prepare to investigate the company’s foreign financial dealings.
The company, World Liberty Financial (WLF), is associated with Trump’s sons and the family of Steve Witkoff. Witkoff currently serves as Washington’s special envoy to the Middle East.
According to US publication Politico, Democratic lawmakers plan to examine Trump’s cryptocurrency businesses. Their investigation may focus on foreign investors, financial agreements, and potential conflicts of interest. However, Pakistan has strongly denied investing public funds in World Liberty Financial. No publicly disclosed Democratic investigation request has specifically named Pakistan.
Islamabad’s engagement with the company began in 2025. The government was working to establish a regulatory framework for digital assets. In March 2025, it established the Pakistan Crypto Council to explore developments in the cryptocurrency sector.
The council signed a Letter of Intent with World Liberty Financial the following month. The document outlined possible cooperation in emerging financial technologies. On January 14, 2026, the Ministry of Finance signed a Memorandum of Understanding with the company.
The agreements have gained attention amid growing political scrutiny in the United States. Democratic Senator Richard Blumenthal is expected to lead an investigation into Trump’s business interests. His areas of focus include the president’s cryptocurrency activities.
Blumenthal has also sent letters to several private companies and administration officials. The correspondence seeks information about previously requested financial records. World Liberty Financial and cryptocurrency exchange Binance were among the companies named.
The companies were asked to provide the required records by January 4, 2027. Failure to comply could lead to further steps to obtain the information. Meanwhile, Pakistan’s Virtual Assets Regulatory Authority (PVARA) has clarified the government’s position. It said Pakistan had neither purchased shares in World Liberty Financial nor allocated public funds to the company.
The regulator described the agreements as technology-focused discussions rather than investment arrangements. These discussions explored ways to improve international payments through blockchain technology and US dollar-backed stablecoins.
PVARA said the objective was to examine technologies that could improve Pakistan’s payment infrastructure. It stressed that the initiative was not intended to favour any particular company.
The regulator also highlighted the importance of overseas remittances. Pakistan received more than $41.6 billion in workers’ remittances during the previous fiscal year. Lower transfer fees could therefore provide significant savings for households.
Blockchain-based systems and dollar-backed stablecoins could potentially make international transfers faster and cheaper. However, these technologies were discussed as possible solutions, not confirmed government implementations.
World Liberty Financial also confirmed that an affiliated entity signed an agreement with Pakistan in 2025. The company said the discussions focused on exploring these payment technologies.
Company spokesperson David Wachsman claimed Pakistan had approximately 40 million cryptocurrency users. He also highlighted the high costs associated with traditional international money transfers. Neither the company nor Pakistan’s regulator disclosed any government equity investment. The agreements have instead been presented as an effort to explore financial technology cooperation.
In other news read more about Is the Iran War Finally Over? Trump Makes Major Announcement
The controversy has also drawn attention to World Liberty Financial’s other international relationships. Its financial connections with the United Arab Emirates have attracted further questions in the United States.
