Trump’s Middle East reconstruction initiative considers creating a dollar-pegged stablecoin for Gaza.
The Board of Peace, the initiative overseen by President Donald Trump with the goal of rebuilding the Middle East, is exploring the creation of a dollar-pegged stablecoin intended for the Gaza Strip. The news was reported by the Financial Times, citing five people familiar with the discussions, which are still in their early stages.
According to one of the sources cited by the FT, the stablecoin would serve as a tool to enable Gaza residents to carry out digital transactions. The backdrop is a severe humanitarian crisis: access to cash in the Strip is extremely limited, with ATMs destroyed or out of service and Israel blocking new supplies of physical currency. This situation has pushed the population toward digital transactions.
Leading the stablecoin project is Liran Tancman, an Israeli tech entrepreneur, alongside the National Committee for the Administration of Gaza (NCAG) and other parties. During the Board of Peace’s inaugural meeting, held last week in Washington D.C., Tancman stated that the NCAG was working on building a “secure digital backbone, an open platform enabling electronic payments, financial services, e-learning, and healthcare with user-controlled data.”
The Board of Peace was launched last month as a coalition of entities organized outside the United Nations. Membership is by invitation only, with an entry fee of $1 billion. The group is chaired by Trump and led in part by his son-in-law, Jared Kushner.
