Trump advisers discuss dollar-backed stablecoin for Gaza

Advisers to U.S. President Donald Trump are discussing the launch of a U.S. dollar-backed stablecoin for Gaza, the Financial Times reported.

According to the newspaper, the proposal remains at an early stage. The stablecoin would be pegged to the U.S. dollar and used for digital payments rather than replacing any official currency in circulation in Gaza.

The project could be overseen by Trump’s so-called “Peace Council” in coordination with a temporary technocratic administration in Gaza.

The discussions come amid a deteriorating banking environment in the enclave. Since 2023, residents have faced limited access to cash due to damaged ATMs and disruptions in banknote supplies, prompting a shift toward digital transactions despite weak internet connectivity and fragile financial infrastructure.