The Reserve Bank of Zimbabwe plans to reissue a batch of gold-backed digital currency on May 18

2023-05-16 21:08:37

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ChainCatcher news, according to Wall Street Watch, the Reserve Bank of Zimbabwe plans to issue another batch of gold-backed digital currency on May 18. In early May, Zimbabwe announced plans to issue a digital currency backed by gold reserves. Two weeks later, the Reserve Bank of Zimbabwe announced the results of the first batch of gold-backed digital currency issuance: the bank received a total of 135 subscription applications, worth 14 billion Zimbabwean dollars (12 million USD), which means that Zimbabwe needs at least 140 kilograms of gold reserves to support the issuance of the first batch of digital currency. The issuance of gold-backed digital currency in Zimbabwe is mainly aimed at curbing the depreciation of the Zimbabwean dollar. (Source link)

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