The Board of Peace, formed under Donald Trump, is currently evaluating the possibility of creating a stablecoin to facilitate digital transactions for the people of Gaza as they seek to rebuild their economy after recent conflicts. According to a report from the Financial Times, the board is contemplating how a stablecoin could play a role in enhancing the economic landscape in Gaza, post-war.

This stablecoin is not intended to be another meme coin or a substitute for traditional currency; rather, it is envisioned as “a means to allow Gazans to transact digitally.”

Trump announced this initiative in January 2023, with membership predicated on a significant $1 billion contribution from participating nations. Notably, the US has committed to providing $10 billion, although many Western European countries opted not to join. Founding members include 26 nations, such as Israel, Saudi Arabia, and El Salvador.

While the exact agency responsible for the potential issuance of this stablecoin remains unclear, the Trump administration has historically advocated for broader acceptance of stablecoins within the US, including the recent passage of the GENIUS Act.

“The current proposal for the Gaza stablecoin is still very premature,” stated Snir Levi, CEO of Nominis. [Translation: La propuesta actual para el stablecoin de Gaza aún es muy prematura.]

Additionally, it was revealed that Trump, along with his son-in-law Kushner, is also considering a plan to tokenize land in the region, aiming for a comprehensive overhaul and redevelopment of Gaza’s infrastructure, intending to turn it into a prosperous area akin to the “Riviera of the Middle East.”