Zimbabwean residents and institutions can now pay or settle domestic transactions using the recently launched gold-backed digital tokens, the central bank has said. Bank governor John Mangudya said the central bank has enlisted the services of external auditors to “validate the availability and adequacy of gold to ZIG at any given time.”
Preserving Value With Gold-Backed Tokens
The Zimbabwean gold-backed digital tokens are now an approved method of paying or settling domestic transactions, the head of the country’s central bank has said. In a statement issued on Oct. 5, John Mangudya, the governor of the Reserve Bank of Zimbabwe (RBZ), added that the digital tokens will also continue to act as a value preservation instrument.
Introduction of the Zimbabwe Gold-Backed Digital Token (Zig) as a Means of Payment pic.twitter.com/o1CL5dsbaQ
— Reserve Bank of Zimbabwe (@ReserveBankZIM) October 5, 2023
As reported by Bitcoin.com News over the past few months, the RBZ has been working o
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