Zimbabwe will mint ‘digital gold token’, says governor

Mangudya says RBZ will offer “store of value” as alternative to foreign currency

Reserve Bank of Zimbabwe
Harare skyline, including the Reserve Bank of Zimbabwe tower in the centre
Photo: Baynham Goredema/Flickr

Zimbabwe’s central bank will issue “digital gold tokens” in a bid to reduce demand for foreign currency, a state-owned Zimbabwean newspaper reported on April 23. The central bank will also expand production of its physical gold coins.

Governor John Mangudya told the Sunday Mail Zimbabweans were seeking out foreign currency “as a store of value”. Minting gold-backed digital assets will “ensure that those with low amounts of local currency are able to purchase the gold units, so that we leave no

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