Zimbabwe’s Launches Gold-backed Digital Currency
Download and listen anywhere
Download your favorite episodes and enjoy them, wherever you are! Sign up or log in now to access offline listening.
May 10, 2023 ·
1m 27s
Zimbabwe is moving forward with the launch of its gold-backed digital currency. The digital currency is set to complement the Mosi-oa-Tunya, fiat gold coins, which the country launched in 2022....
show more
Zimbabwe is moving forward with the launch of its gold-backed digital currency.
The digital currency is set to complement the Mosi-oa-Tunya, fiat gold coins, which the country launched in 2022.
The country hopes to have more citizens buy into its gold industry and fight its currency devaluation and inflation which jumped to 285% in 2022.
The RBZ outlined plans for the implementation of the currency; the tokens will be issued only for investment purposes and available through banks.
The bank has invited Zimbabwean citizens and businesses to subscribe to the token. Applications for the tokens must be for a minimum of $10 for individuals and $5,000 for financial institutions.
show less
The digital currency is set to complement the Mosi-oa-Tunya, fiat gold coins, which the country launched in 2022.
The country hopes to have more citizens buy into its gold industry and fight its currency devaluation and inflation which jumped to 285% in 2022.
The RBZ outlined plans for the implementation of the currency; the tokens will be issued only for investment purposes and available through banks.
The bank has invited Zimbabwean citizens and businesses to subscribe to the token. Applications for the tokens must be for a minimum of $10 for individuals and $5,000 for financial institutions.
Information
| Author | Africa Business Radio |
| Website | - |
| Tags |
Copyright 2024 - Spreaker Inc. an iHeartMedia Company
