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Thursday, November 7
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Are gold-backed digital tokens a threat to Zimbabwe’s financial inclusion? 

By Investing No Comments6 Mins Read
In its latest bid to stabilize the long-volatile Zimbabwean dollar, the Reserve Bank has alighted on a novel solution to Zimbabwe’s currency woes by rolling out gold-backed digital tokens (GBDT) on May 12, 2023. www.theexchange.africa
In its latest bid to stabilize the long-volatile Zimbabwean dollar, the Reserve Bank has alighted on a novel solution to Zimbabwe’s currency woes by rolling out gold-backed digital tokens (GBDT) on May 12, 2023. [Photo/ Crypto News Flash]

RBZ Governor John Mangudya revealed that as of July 21st, the bank had conducted 11 issuances of GBDT. The Governor noted that the bank received 590 applications to purchase tokens equivalent to 325.02Kg of gold. In 2022, as the international economic environment worsened, Zimbabwe turned to gold coins were introduced to tame runaway inflation. Zimbabwe’s

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Albert is an experienced business writer specializing in stock exchanges, financial markets and technology. He has a deep understanding of the dynamics of the global economy and a keen interest in analyzing investment trends, market trends, and the impact of investments on stock prices especially in the Southern African region.

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