US Board of Peace Explores Cryptocurrency for Gaza Economy

The US Board of Peace is mulling over the creation of a cryptocurrency for the Gaza Strip in an attempt to revitalize its economy. According to sources cited by the Financial Times, the 'stablecoin' would be tied to the US dollar and share a similar value.

The initiative aims to provide Palestinians in Gaza with a means to carry out digital transactions, rather than establishing a new currency. The Board of Peace is set to enlist the expertise of Palestinian and Gulf firms specializing in cryptocurrency, who will be involved in the project.