$ORDI

Supported by the US dollar.. The Peace Council is studying the launch of a digital currency for Gaza

The administration of US President Donald Trump is discussing with the "Peace Council" and the Gaza Administration Committee the possibility of launching a stable digital currency backed by the dollar as part of a plan to rebuild the economy in the Gaza Strip, according to the "Financial Times" newspaper.

The newspaper clarified, citing informed sources, that the plan is still in its initial stages, and that no new Palestinian currency will be issued; rather, the stable digital currency will serve as an electronic payment mechanism, following the damage to the banking system and the decline in access to the shekel since the war began in October 2023.

The sources added that the "Peace Council" and the Gaza Administration Committee will be the ones to make decisions regarding the regulatory framework for the digital currency.

This proposal comes as part of a broader vision for the future of Gaza, amid the collapse of economic activity due to the ongoing war for two years, and the disruption of the banking system and traditional payment methods.

The newspaper noted that officials from the Gaza Administration Committee are participating in this project, and it is expected that the digital currency will be linked to the US dollar, with support from digital asset companies.