cryptocurrency

Zimbabwe Sets Price to Lure Buyers for Gold-Backed Digital Money – Bloomberg Law


Zimbabwe’s central bank will start selling gold-backed digital currency to investors next week and set the minimum token price at $10 for individuals and $5,000 for corporates and other entities.

The tokens will be sold in US dollars and local currency, but the latter shall be at a 20% margin above the willing-buyer willing-seller interbank mid-rate, the Reserve Bank of Zimbabwe said in statement on Thursday. The offer opens on May 8 and closes two days later.

The introduction of digital tokens is the latest attempt by the southern African nation to support its own local currency, which has weakened …



READ SOURCE

Readers Also Like:  What Small Businesses Should Know about Cryptocurrency

This website uses cookies. By continuing to use this site, you accept our use of cookies.