Gaza may get US dollar-pegged digital currency
Within the framework of the Peace Council, the Trump administration is planning to create a US dollar-pegged stablecoin to support Gaza’s economy.
Information about the creation of a stablecoin for Gaza has emerged from multiple sources. However, as reported by Cointelegraph, the plan remains at an early stage and many details are still unclear. Meanwhile, following the war between Israel and Hamas, Gaza’s economic infrastructure has been severely damaged.
The local administration does not have the authority to issue its own currency and must use the Israeli shekel, access to which has recently become significantly constrained. The volume of US dollar transactions is insufficient to service the economy, while a shortage of physical shekels has led cash traders to charge high commissions, prompting residents to shift toward electronic payment systems.
Not a shekel or dinar, but a supplementary currency
The initiative to launch a stablecoin for Gaza is being carried out under the auspices of the Peace Council, established by the United States to rebuild the sector, and is led by Israeli tech entrepreneur Liran Tanchman, who serves as a volunteer adviser.
The project also involves the National Committee for Gaza Management (NCGM), a 14-member body, the new Palestinian technocratic administration of Gaza, and the Office of the High Representative headed by former UN envoy Nickolay Mladenov. Both entities operate within the Peace Council framework.
A source close to the project said the planned structure is not a “Gaza coin” or a new Palestinian currency, but rather a tool designed to enable Gaza residents to conduct transactions in digital form.
As we wrote, Tokenizing ruins: Why selling Gaza land on blockchain is flawed concept
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