Zimbabwe central bank close to introducing gold-backed digital tokens into retail
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.
Africa
foreign exchange market
gold
gold-backed digital currency
IMF
Reserve Bank of Zimbabwe
store of value
IMF Says Zimbabwe Gold-Backed Digital Currency a Potential Threat to Financial Stability
The International Monetary Fund has urged Zimbabwean authorities to weigh the benefits versus risks of issuing a gold-backed digital currency. Instead of using gold-backed digital currency to limit the demand…
Zimbabwe sets price to sell gold-backed digital tokens
Zimbabwe's central bank plans to sell gold-backed digital tokens at $10 for individuals and $5,000 for corporates.