RBZ sold digital currency worth 4.8 kgs of pure gold

The Reserve Bank of Zimbabwe (RBZ), controlled to sell digital foreign money well worth 4.8 kgs of 24-karat gold.

digital currency

The RBZ on Tuesday obtained 12 applications to buy gold-subsidized virtual tokens with an quantity of Zwl $five,240,399,573.79 realised by the Central Bank.

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Since its inception, the Central Bank has issued 736.52 kgs of gold that’s same to 736,518,865.00 milligrams.

The gold-sponsored virtual tokens, now named Zimbabwe Gold or ZiG, became an accredited manner of charge for domestic transactions with impact from 05 October 2023 with any transactions going via ZimSwitch and the RTGS machine inside the identical way as Zimbabwe bucks and US dollars being moved between financial institution money owed, with swipe machines being made to be had.

The tokens were to be had as an funding or store of value for some months, but now if each a purchaser and dealer have ZiG financial institution accounts and agree to apply the token for payment, they should buy and sell some thing thru those accounts.

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