Donald Trump’s World Council aims to establish a stablecoin to assist Gaza., 2026/02/24 10:41:35

The “Peace Council,” organized by former U.S. President Donald Trump, is exploring the creation of a dollar-backed stablecoin aimed at facilitating payments in the Gaza Strip, according to the Financial Times citing sources.

Sources indicate that the token’s issuer could be a regional firm from the Gulf states or Palestine that specializes in digital currencies.

The stablecoin is expected to be utilized for digital payments by the local population, which should enhance transaction security and reduce the risks of interception by armed groups. The project is overseen by Liran Tancman, a consultant for the “Peace Council,” with regulatory frameworks being developed in collaboration with council officials.

According to FT’s sources, this new financial instrument aims to address the cash shortage and replace physical payments with digital alternatives, enabling residents to pay for goods and utilities. However, some officials express concerns that the introduction of a digital currency could lead to a loss of control over financial flows if the token falls outside the jurisdiction of the Palestinian regulator.

Currently, the primary currency in Gaza remains the Israeli shekel. The Palestinian Monetary Authority, which functions as the central bank, lacks the authority to issue its own currency. Transactions are also conducted in U.S. dollars, but their share is less than that of shekel operations.

Since the onset of the conflict in 2023, access to cash in Gaza has significantly diminished: some ATMs have been destroyed or shut down, and shekel supplies are restricted by Israel, FT notes.

Previously, families of hostages and victims of the October 7, 2023, Hamas attack filed a lawsuit against Binance exchange founder Changpeng Zhao, claiming that approximately $41 million linked to the group passed through the platform between August 2021 and June 2023.