A person familiar with the project reportedly said the stablecoin under preliminary discussion by the board would be established as “a means to allow Gazans to transact digitally.”
The Board of Peace established by US President Donald Trump, which requires a $1 billion contribution for membership, is reportedly exploring a stablecoin for use in rebuilding Gaza’s economy following two years of war triggered by a Hamas terror attack in October 2023.
According to a Monday Financial Times report, the board is in the preliminary stages of discussing whether a stablecoin could be used to help rebuild Gaza’s economy. A person familiar with the project reportedly said the stablecoin would not be a meme coin or a replacement for fiat currency, but rather “a means to allow Gazans to transact digitally.”
Trump announced the formation of the board in January. Membership requires countries to contribute $1 billion for a permanent, renewable role, while the US, according to Trump’s social media announcement, pledged $10 billion. The majority of countries in western Europe declined invitations to join, while 26 countries including Israel, Saudi Arabia, Hungary, and El Salvador were founding members.
