CryptoMediaClub
Wednesday, October 8, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Zimbabwe’s Digital Currency Issued as Physical Banknotes

01.05.2024
A A
0
126
VIEWS
ShareShare

The Reserve Bank of Zimbabwe (RBZ) is introducing the physical equivalent of ZiG tokens, a digital currency backed by the country’s gold reserves.

Zimbabwe’s Digital Currency (ZiG) Gets Physical Form

The Reserve Bank of Zimbabwe is issuing ZiG banknotes into circulation, beginning to provide physical reserves of the currency to all banks in the country. The largest denomination of the new currency is 200 ZiG ($15), while the smallest banknote is 1 ZiG ($0.01). This is reported by Bloomberg.

Zimbabwe Gold (ZiG) is a token backed by physical gold stored at the Reserve Bank of Zimbabwe (RBZ). The digital currency was recognized as the country’s official means of payment in October 2023.

According to Lawrence Nyazema, President of the Bankers Association of Zimbabwe, all 19 banks in the country were secured with the bills by Monday evening, April 29. He said the next couple of weeks will be crucial for ZiG as the volume of currency in circulation should reach a sufficient value during this period. Nyazema also urged Zimbabweans to continue using both the digital and physical versions of the currency to make payments.

Plans to launch ZiG were revealed by John Mangudya, Governor of the RBZ, in early April 2023. The main purpose of the initiative was the need for a reliable and stable national currency, as well as the need to protect the fiat savings of local residents from volatility. Already in mid-April 2023, the first round of token sales was initiated, in which the government raised ~$39 million.

The transition to the new currency triggered chaos in the local stock exchange. Stock trading volume and transaction value plummeted as the exchange converted stock prices to the new unit of measure. The drop in trading volumes caused revenues of some local brokerage firms to fall by at least 50%. Meanwhile, the introduction of the new currency helped interest rates fall from 130% to 20%.

Сообщение Zimbabwe’s Digital Currency Issued as Physical Banknotes появились сначала на CoinsPaid Media.

Share10Tweet6ShareSharePin2

Related Posts

Trump Meme Coin Issuer Seeks $200M for Treasury Company to Support Token 
All news

Trump Meme Coin Issuer Seeks $200M for Treasury Company to Support Token 

08.10.2025
0

The issuer of Donald Trump’s meme coin is working to raise at least $200m for a digital-asset treasury company that...

Read moreDetails
Dogecoin Price Prediction: DOGE Overtakes XRP as Volume Explodes – Meme Coins are Back

Dogecoin Price Prediction: DOGE Overtakes XRP as Volume Explodes – Meme Coins are Back

08.10.2025
Crypto Price Prediction Today 7 October – XRP, Solana, Shiba Inu

Crypto Price Prediction Today 7 October – XRP, Solana, Shiba Inu

08.10.2025
ChatGPT’s XRP Analysis Reveals $2.86 Breakdown as Ripple National Trust Deadline Hits – Can $2.70 Support Hold?

ChatGPT’s XRP Analysis Reveals $2.86 Breakdown as Ripple National Trust Deadline Hits – Can $2.70 Support Hold?

08.10.2025
Cardano Price Prediction: Historic Pattern Flashes Again – Is ADA About to Explode Like It Did Last Bull Run?

Cardano Price Prediction: Historic Pattern Flashes Again – Is ADA About to Explode Like It Did Last Bull Run?

07.10.2025
Load More
Next Post
Is Arweave Going to Zero? AR Price Drops 18.7%, While Traders Are Accumulating This New GambleFi Token

Is Arweave Going to Zero? AR Price Drops 18.7%, While Traders Are Accumulating This New GambleFi Token

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Solana Price Breaks $150 – Could Powell’s Rate Cut Comments Propel SOL to $1,000 by Year-End?

Solana Price Breaks $150 – Could Powell’s Rate Cut Comments Propel SOL to $1,000 by Year-End?

1 year ago
99Bitcoins Token Launches Its Learn 2 Earn Crypto Presale, Next BRC-20 Project to Explode?

99Bitcoins Token Launches Its Learn 2 Earn Crypto Presale, Next BRC-20 Project to Explode?

1 year ago

Introducing ApeMax The Token, Hoping to Be the Next Big Meme Coin to Rocket to the Moon

2 years ago
Bybit, Bitget, MEXC, Kucoin Apps ‘Faraway from Japanese App Retailer’

Bybit, Bitget, MEXC, Kucoin Apps ‘Faraway from Japanese App Retailer’

8 months ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

BNB hits new all-time high amid rising memecoin activities; surpasses XRP in market value

Crypto Price Prediction Today 7 October – XRP, Solana, Shiba Inu

ChatGPT’s XRP Analysis Reveals $2.86 Breakdown as Ripple National Trust Deadline Hits – Can $2.70 Support Hold?

Cardano Price Prediction: Historic Pattern Flashes Again – Is ADA About to Explode Like It Did Last Bull Run?

Bitcoin ETFs see record $1.2 billion inflow with BlackRock’s IBIT leading the charge

Altcoin Season Puts Sonic, Stacks, And Bittensor On Trader Screens

Trending

Trump Meme Coin Issuer Seeks $200M for Treasury Company to Support Token 
All news

Trump Meme Coin Issuer Seeks $200M for Treasury Company to Support Token 

08.10.2025
0

The issuer of Donald Trump’s meme coin is working to raise at least $200m for a digital-asset...

Why is everything dumping? Mixed treasury auction results point to risk-off

Why is everything dumping? Mixed treasury auction results point to risk-off

08.10.2025
Dogecoin Price Prediction: DOGE Overtakes XRP as Volume Explodes – Meme Coins are Back

Dogecoin Price Prediction: DOGE Overtakes XRP as Volume Explodes – Meme Coins are Back

08.10.2025
BNB hits new all-time high amid rising memecoin activities; surpasses XRP in market value

BNB hits new all-time high amid rising memecoin activities; surpasses XRP in market value

08.10.2025
Crypto Price Prediction Today 7 October – XRP, Solana, Shiba Inu

Crypto Price Prediction Today 7 October – XRP, Solana, Shiba Inu

08.10.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz