The Reserve Bank of Zimbabwe -RBZ- has released the latest prices for gold coins and digital tokens.
Backed by a certain amount of gold, which helps keep its value stable, this currency is tied to the market value of the gold – unlike a fiat currency.
The Zimbabwe gold-backed digital currency is used as legal tender and a store of value alongside the Zimbabwean dollar and bond notes.
Users can buy and sell it using Zimbabwean dollars and other foreign currencies.
Ideally, backing a digital currency with gold involves having a certain measure of gold reserves and depends on the current market value of gold.
Source Zwnews
