Trump's 'Board of Peace' Is Exploring a USD Stablecoin for Gaza: FT

DefAInt•

The so-called “Board of Peace,” created by U.S. President Donald Trump and established during the World Economic Forum last month, is exploring launching a U.S.-dollar-pegged stablecoin in Gaza, FT reported today, Feb. 23.

Led by Israeli tech entrepreneur Liran Tancman, the initiative reportedly aims to alleviate cash shortages in the war-torn region.

"This will not be a 'Gaza Coin' or a new Palestinian currency, but a means to allow Gazans to transact digitally," a person familiar with the project told the FT.

The project is in preliminary stages, but sources told the FT that it is expected to be tied to the U.S. dollar. How the asset would be introduced in the region remains unclear.

The initiative involves collaboration with the 14-member National Committee for the Administration of Gaza (NCAG) and the Office of the High Representative, led by Nickolay Mladenov, which are both working with the Board of Peace. The Board and NCAG are tasked with deciding the regulatory framework and access to the stablecoin, per the report.

Tancman, serving as an unpaid adviser to the Board of Peace, recently spoke at a meeting of the organization in Washington, stating more broadly that NCAG was working on building "a secure digital backbone, an open platform enabling e-payments, financial services, e-learning, and healthcare with user control over data."

As Reuters recently reported, Israel’s military has officially accepted death toll reports from Gaza health officials that estimate around 70,000 Palestinians, most of whom were women and children, have been killed in Israeli attacks since October 2023.

This article was generated with the assistance of AI workflows.

Related Posts

Advertisement

Get an edge in Crypto with our free daily newsletter

Know what matters in Crypto and Web3 with The Defiant Daily newsletter, Mon to Fri

90k+ Defiers informed every day. Unsubscribe anytime.