Zimbabwe’s pivot towards a gold-backed digital currency reflects a broader global trend: the shift toward alternative currencies and digital assets. As economic instability and inflation continue to plague emerging and developing economies, traditional financial systems are under scrutiny. Amid fiscal and...
The new gold backed digital currency has for nowfailed to convincemany economists regarding its effectiveness and the whole idea behind its introduction. Even theIMF has warned the nation against it.IMFcautioned Zimbabwe against adopting a gold-backed digital currency to deal wit...
A Gold-Pegged Stablecoin Backed by the Texas Government Per the bill, currency reserves must be 100% backed in gold. To prevent manipulation of the digital currency’s liquidity, lawmakers implemented preventive measures. Although unlimited purchases are allowed, the comptroller must acquire the same ...
Zimbabwe's central bank launched a new "structured currency" backed by gold on Friday, as it seeks to tackle sky-high inflation and stabilize the country's long-floundering economy. The ZiG—short for Zimbabwe Gold—will replace the Zimbabwean dollar which has tumbled in value over the past ...
While encouraging Texas’ gold-backed digital currency project, Harris spoke unfavorably of a central bank digital currency (CBDC). “I think we would all agree that a CBDC is detrimental to the nation and the state of Texas,” the lawmaker said at the fireside chat, referring to many poten...
Each USGold token is backed by an American Eagle one ounce gold coin, minted by the United States Mint, and may be redeemed any time for the physical coin. USG IS THE DIGITAL CURRENCY WITH STABLE VALUE USGold is a utility token with a stable-value by design. It’s a true digital cu...
HARARE, Zimbabwe (AP) — 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. ...
Zimbabwe has announced the launch of a gold-backed digital currency in a bid to stabilize its faltering dollar. Reserve Bank of Zimbabwe Gov. John Mangudya said Friday that the gold tokens will start circulating on May 8. He said they will be “fully bac
The central bank of Zimbabwe introduced this gold-backed digital tokens to combat the volatility of its national currency.
Each Gold digital currency is backed by one ounce US American Eagle gold coin. SEATTLE (Scrap Monster):IBMC Financial Professionals Group, in partnership with US Gold Currency Inc. and Blockfills to launch the world’s first monetary gold-backed digital gold currency to the Gulf Cooperation Counc...