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Zimbabwe plans to launch digital currency backed by gold

Zimbabwe has announced the launch of a gold-backed digital currency in a bid to stabilize its faltering dollarBy FARAI MUTSAKA Associated PressApril 28, 2023, 11:35 AM ET• 3 min readHARARE, Zimbabwe -- 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...
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