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Reserve Bank of Zimbabwe Set to Launch Gold-Backed Digital Token (GBDT)

The Reserve Bank of Zimbabwe (RBZ) has announced its advanced plans to launch Gold-Backed Digital Token (GBDT) for retail purposes following its successful reception among investors, a success the Bank hailed as "commendable" in a recent report. During the presentation of the Mid-Term Monetary Policy Statement (MPS) on Wednesday, August 9, Governor John Mangudya of the RBZ disclosed that efforts are in progress to elevate the GBDTs to the status of a medium of transactions. According to Mangudya, now the GBDT "shall be scaled up to be used for transactional purposes by the public." The RBZ governor also announced plans for nationwide awareness campaigns.

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