A Zimbabwean professor has highlighted the BRICS New Development Bank (NDB) as a crucial alternative to the International Monetary Fund (IMF), offering better financial terms to developing nations. He emphasized the NDB’s role in helping countries like Zimbabwe escape debt cycles and discussed the introduction of Zimbabwe Gold (ZiG), a currency backed by mineral wealth,…
Read more
The Reserve Bank of Zimbabwe (RBZ) has denied claims that it intends to force recipients of U.S. dollar-denominated remittances to convert their funds into local currency. The central bank clarified that it has no plans to review its diaspora remittances policy. According to the RBZ, the market had misconstrued a video on social media in…
Read more
The Zimbabwean government has formed a multi-stakeholder committee, tasked with consulting stakeholders in the cryptocurrency ecosystem. This committee, known as the National Risk Assessment Coordination Committee (NRACC), aims to determine the nature and extent of the cryptocurrency ecosystem in Zimbabwe. It will also evaluate the risks associated with cryptocurrencies, such as their potential misuse for…
Read more
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…
Read more
The Reserve Bank of Zimbabwe (RBZ) has announced its advanced plans to launch Gold-Backed Digital Token (GBDT) for retail purposes following its successful reception among investors, a success the Bank hailed as “commendable” in a recent report. During the presentation of the Mid-Term Monetary Policy Statement (MPS) on Wednesday, August 9, Governor John Mangudya of…
Read more
The Reserve Bank of Zimbabwe’s first gold-backed cryptocurrency sale has been a success. The Reserve Bank of Zimbabwe has sold 14 billion Zimbabwean dollars’ worth of gold-backed digital tokens — worth around $39 million — despite a warning from the International Monetary Fund. On May 12, the central bank of Zimbabwe announced that it had…
Read more
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: Voyager Might Start Fund Distribution in ‘Few Weeks’, Jack Dorsey’s Cash App Posts $2.16B in BTC Revenue for Q1, UK Continues Crypto ATM Crackdown Read more »Sign up…
Read more
Zimbabwe’s central bank plans to sell gold-backed digital tokens at $10 for individuals and $5,000 for corporations. Zimbabwe’s central bank has set a price for its gold-backed digital tokens. The country is planning to sell its gold-backed digital currency to investors starting May 8. The tokens will be sold at a minimum price of $10…
Read more
The Central Reserve Bank of Zimbabwe (RBZ) plans to introduce a gold-back digital currency, meant to be used as legal tender within the country. The new currency will be used for transactions within the South African nation as part of its plans to stabilize the local currency, The Sunday Mail reported. … Read More: Zimbabwe’s Central…
Read more
The Reserve Bank of Zimbabwe plans to introduce a gold-backed digital currency as legal tender in a bid to stabilize its local currency. The Reserve Bank of Zimbabwe is set to introduce a gold-backed digital currency to serve as a legal tender in the country. The move is a government initiative to stabilize the local…
Read more
