ChainCatcher news, the Reserve Bank of Zimbabwe (RBZ) stated that it is about to launch the GBDT (Gold-Backed Digital Token) "for trading purposes," which is currently "in the final stages of preparation."The central bank stated that the launch of GBDT will "serve as a supplement to the US dollar in domestic transactions, as retailers will offer a safer, more convenient, and more stable medium of exchange."

ChainCatcher news, the Reserve Bank of Zimbabwe is reportedly starting a "dry run" to test the feasibility of issuing a gold-backed digital currency that will be used as a means of payment. This digital currency will be accepted as legal tender for peer-to-peer transactions and is part of a series of measures by the Reserve Bank of Zimbabwe (RBZ) aimed at stabilizing the local currency.According to reports, RBZ's Director of Economic Research and Policy Implementation, Nelson Mupunga, stated that the digital currency will serve as an alternative to the US dollar and other foreign currencies. "We are in the later stages; we are currently in the testing phase. Soon, we will allow gold digital tokens to be used for trading purposes, just like someone buying foreign currency from the parallel market. But at the same time, we can trade with it. Therefore, the token is coming soon and will fulfill the same function." (source link)

ChainCatcher news, the Reserve Bank of Zimbabwe is considering the possibility of providing loans backed by gold-supported digital currency as collateral. The Zimbabwe Bankers Association stated in an email on Thursday that the central bank envisions this as a medium for future daily transactions to expand the range of financial services offered.The association explained that the implementation of digital currency would require banks to incorporate a third currency into their systems to facilitate payments. This development opens up possibilities for banks to offer a full range of products that were previously only supported by the Zimbabwean dollar and the US dollar, as the adoption of gold-backed digital tokens has gained attention. (Source link)

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)

ChainCatcher news, the Reserve Bank of Zimbabwe will issue gold-backed digital tokens starting from May 8. (Source link)

ChainCatcher news, according to the Sunday Mail, the Reserve Bank of Zimbabwe will launch a gold-backed digital currency as the legal tender for transactions in the country, as part of measures to stabilize the local currency. This will represent the first action by the central bank to use the country's gold reserves to anchor the Zimbabwean dollar.The Zimbabwean monetary authorities envision that the gold-backed digital currency will allow those holding small amounts of Zimbabwean dollars to exchange them for digital currency, enabling value storage and hedging against exchange rate fluctuations. Meanwhile, the Reserve Bank of Zimbabwe is also considering injecting more Mosi-oa-Tunya gold coins into the market to curb the recent depreciation of the Zimbabwean dollar. (source link)