The Financial Times of the UK quoted sources familiar with the matter, stating that the “Board of Peace,” led by U.S. President Donald Trump and aimed at promoting post-war reconstruction in the Middle East, is evaluating the creation of a USD stablecoin for the Gaza Strip to serve as a digital transaction tool for local residents, thereby revitalizing Gaza’s economy.
Since Hamas launched a large-scale attack on Israel in October 2023, the Gaza Strip has been mired in conflict. Israel’s subsequent intense airstrikes and ground military operations aim to completely dismantle Hamas forces, but the prolonged fighting has also caused devastating destruction in Gaza, triggering a severe humanitarian crisis.
The Financial Times pointed out that Gaza’s traditional financial system is almost completely paralyzed. ATMs are either destroyed or forced to shut down, and Israel’s strict blockade on new cash shipments has cut off residents’ access to cash. In this extreme cash shortage, locals and businesses have had to turn to digital transactions to meet their basic needs.
The report states that this stablecoin project is led by Israeli tech entrepreneur Liran Tancman, in collaboration with the Gaza National Committee (NCAG) and various organizations and institutions.
The “Board of Peace” was originally established to address Gaza’s issues, but Trump’s vision seems to have shifted. He hopes to grant the committee greater authority, not only to promote lasting peace between Israel and Hamas but also to help resolve global conflicts, which has raised concerns about Trump’s attempt to “replace the United Nations.” Notably, countries seeking permanent seats on the committee must pay an “entry fee” of at least $1 billion.
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