Zimbabwe tests digital currency backed by gold
Channel: Crypto News Today | CNT
Date: 2023-07-09

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Zimbabwe's Reserve Bank is testing a gold-backed digital currency to stabilize the country's struggling economy. The digital currency aims to serve as a legal tender for peer-to-peer and business transactions.
The move is considered risky, with concerns about potential depletion of Zimbabwe's gold reserves. Several other measures were involved, including scrapping import licenses and raising interest rates to 150% from 140%.
#zimbabwelatestnews #cbdc #cryptonewstoday

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