An initiative overseen by President Donald Trump called the Board of Peace, which aims to rebuild the Middle East, is exploring the creation of a dollar-pegged stablecoin for Gaza, according to the Financial Times, citing five people familiar with the early-stage discussions.
The stablecoin would be a “means to allow Gazans to transact digitally,” according to one source in the article.
Gaza is at the center of an ongoing war between Hamas and Israel that got intense quickly after Hamas carried out a large attack on Israel in October 2023. Israel responded with airstrikes and ground forces to dismantle Hamas. The ongoing conflict has caused heavy casualties, all-around destruction, and a severe humanitarian crisis in Gaza.
Access to cash in Gaza is extremely limited, with cash machines destroyed or closed, and Israel blocking new cash deliveries, the FT reported. This has pushed residents toward digital transactions.
Liran Tancman, an Israeli tech entrepreneur, is leading the stablecoin effort, alongside the National Committee for the Administration of Gaza and others, according to FT.
The “Board of Peace” was launched last month and is a coalition of entities organized outside of the United Nations. Membership is by invitation with a $1 billion fee. The group, chaired by Trump and led in part by his son-in-law Jared Kushner, held its first meeting last week in Washington D.C., where Tancman said the NCAG was working on creating a “secure digital backbone, an open platform enabling e-payments, financial services, e-learning, and healthcare with user control over data,” the FT reported.
The White House did not immediately respond to a request for comment.
Trump has increasingly embraced stablecoins in recent years. He signed the first federal stablecoin bill into law over the summer and, along with his family, is involved in the crypto venture World Liberty Financial, which issued the USD1 stablecoin. Some lawmakers have raised concerns about national security and potential conflicts of interest, especially as broader crypto regulation is being debated in Washington.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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