Trump team considers stablecoin for Gaza recovery

Trump’s Board of Peace is considering a US dollar-pegged stablecoin for Gaza to enable digital payments and support economic recovery. The plan is in early stages and faces both support and criticism.

Advisers to Donald Trump's Board of Peace are exploring the launch of a US dollar-pegged stablecoin to aid Gaza's postwar economic recovery. This digital asset would serve as a payments mechanism, not a new Palestinian currency, aiming to address the collapse of Gaza's banking system and the scarcity of physical cash after the Israel-Hamas conflict. The stablecoin could facilitate aid distribution, salary payments, remittances, and commerce, with transactions designed to be traceable and compliant with US anti-money laundering regulations. Israeli tech entrepreneur Liran Tancman is leading the initiative, with possible backing from Gulf Arab and Palestinian digital asset firms. Supporters believe the stablecoin could reduce dependence on cash and limit Hamas's access to funds. However, critics caution that it might economically separate Gaza from the West Bank. Governance and regulatory frameworks are still under discussion, with many implementation details yet to be finalized.