World Liberal Finance (WLF) and Pakistan Crypto Council have signed a Letter of Intent (LOI) to collaborate on Blockchain and Decentralized Finance (DeFi) innovations. The partnership aims to assist Pakistani youth and promote the country's digital economy.

Supported by former US President Donald Trump, the WLF delegation met with Pakistan's Prime Minister, Chief of Army Staff and other senior officials during a high-level visit. The signing of the Letter of Intent (LOI) in the presence of the Minister of Finance and the Governor of the Central Bank signifies Pakistan's active participation in the global fintech race.

The focus of the cooperation includes the establishment of a regulatory sandbox, the development of cross-border payment applications in stable currencies, and research on the monetization of physical assets. The Pakistani government is expected to announce a comprehensive cryptocurrency legalization policy in the near future, a move that could put the country at the forefront of cryptocurrency adoption.

Pakistan is uniquely positioned with a population of 64% under the age of 30, an annual crypto trading volume of $300 billion, and 25 million active users. The Finance Minister said the partnership will usher in a new era for the blockchain economy, and the CEO of the Crypto Council emphasized that it is a strategic way to raise the international financial profile of the country.

According to analysts, Pakistan's young population, robust free-enterprise economy and government support create favorable conditions for Web3's growth. Data from major exchanges show that Pakistan is among the top 10 countries in the world in terms of crypto trading volume, despite the lack of regulatory compliance. The establishment of a regulatory framework is expected to accelerate economic transformation and propel the population into the Web3 era.

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