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News Explorer — Zimbabwe Plans Gold-Backed Digital Currency

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Apr 24, 9:23 am
Coindesk

Zimbabwe Plans Gold-Backed Digital Currency

The Reserve Bank of Zimbabwe (RBZ) is planning to introduce a gold-backed digital currency as legal tender to help stabilize the local currency, the Zim dollar. This token will be a form of electronic money backed by the country's gold reserves, held by the central bank, allowing people to exchange their money for the gold-backed token to protect against the volatility of the Zim dollar.

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