Tags: Zimbabwe

Today in Crypto: Fines and Prison for Unregistered Crypto Firms in Cyprus, OrdinalsBot Raise $1 Million, Zimbabwe Gold is Now a Payment Method

The Reserve Bank of Zimbabwe first introduced its new project, in which every issued digital token would be backed by a physical amount of gold held in the bank’s reserves, in April 2023.

Reserve Bank of Zimbabwe Set to Launch Gold-Backed Digital Token (GBDT) for Retail Use Following Successful Investor Interest

Physical and digital gold tokens have been a big success as investments and an inflation hedge in Zimbabwe, which continues to face triple-digit inflation.

The Reserve Bank of Zimbabwe’s first gold-backed cryptocurrency sale has been a success.

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Zimbabwe’s central bank plans to sell gold-backed digital tokens at $10 for individuals and $5,000 for corporations.

Flag of Zimbabwe (Manuel Augusto Moreno/ Getty)

The central bank of Zimbabwe has announced a new digital asset that will be backed by gold.

Zimbabwe‘s Central Bank Plans Gold-Backed Digital Currency to Stabilize Local Economy

Harare, Zimbabwe. (Camomile Shumba/CoinDesk)

The Reserve Bank of Zimbabwe plans to introduce a gold-backed digital currency as legal tender in a bid to stabilize its local currency.