The UK Financial Times, citing sources familiar with the matter, reports that the “Board of Peace,” led by U.S. President Donald Trump and established to promote post-war reconstruction in the Middle East, is evaluating the creation of a USD stablecoin for the Gaza Strip as a digital transaction tool for local residents, aiming to revive Gaza’s economy.
Since Hamas launched a large-scale attack on Israel in October 2023, Gaza has been mired in conflict. Israel’s subsequent intense airstrikes and ground military operations aim to dismantle Hamas’ armed forces, but the prolonged fighting has caused devastating destruction in Gaza and triggered a severe humanitarian crisis.
The Financial Times notes that Gaza’s traditional financial system is nearly 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 paper money. In this extreme cash shortage, locals and businesses have had to turn to digital transactions to meet 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 issues, but Trump’s vision appears to have shifted. He now aims to grant the committee greater authority, not only to promote lasting peace between Israel and Hamas but also to help resolve global conflicts, raising concerns that Trump is attempting 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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