gold-backed digital currency

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IMF Says Zimbabwe Gold-Backed Digital Currency a Potential Threat to Financial Stability

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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 for the greenback, the global lender said monetary authorities should consider liberalizing the foreign exchange market. Risks to Macroeconomic and Financial Stability The International Monetary … Read more

Zimbabwe’s De-Dollarization: Central Bank to Issue Gold-Backed Digital Currency in Early May

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The Reserve Bank of Zimbabwe (RBZ) has said it will start issuing gold-backed digital tokens on May 8. The first phase of the launch will see the digital tokens being issued for “investment purposes with a vesting period of 180 days.” The RBZ also revealed that the gold-backed digital tokens “would be used both as … Read more