Trump’s Board of Peace eyes stablecoin to support digital transactions in Gaza: FT

The Board of Peace, an initiative overseen by former President Donald Trump aimed at Middle East reconstruction, is considering creating a dollar-pegged stablecoin for use in Gaza, according to the Financial Times. This move is prompted by the severe lack of physical cash in Gaza, where ATMs are destroyed and new deliveries are blocked amid the ongoing conflict. The stablecoin would serve as a means for Gazans to transact digitally. Liran Tancman, an Israeli tech entrepreneur, is leading this effort alongside the National Committee for the Administration of Gaza (NCAG). The Board of Peace, which requires a $1 billion fee for invitation-only membership and is chaired by Trump and partly led by Jared Kushner, recently held its first meeting where Tancman discussed creating a secure digital backbone for payments, e-learning, and healthcare in Gaza. Trump has recently become more supportive of stablecoins, having signed the first federal stablecoin bill into law and being involved with the USD1 stablecoin venture.

(Source：The Block)