Zimbabwe plans to launch digital currency backed by gold

Zimbabwe plans to launch digital currency backed by gold

a year ago
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https://apnews.com/article/digital-currency-zimbabwe-inflation-gold-52faa7783c895f10d0da168e9cfd620b

HARARE, Zimbabwe (AP) — Zimbabwe will launch a digital currency next month by introducing “tokens” that are backed by gold reserves and can be transferred between people and businesses as a form of payment, the country's central bank said Friday.

The move is aimed at shoring up Zimbabwe's faltering national currency, the Zimbabwe dollar, which is fast depreciating amid yearslong economic woes in the southern African nation.