Zimbabwe’s popular gold-backed digital token may soon be used for trade.
Now the GBDT “shall be scaled up to be used for transactional purposes by the public.” The RBZ said:
“The Bank is at an advanced stage in preparations for the rolling out of GBDTs for transactional purposes in Phase II of the project. […] It is envisaged that the transactional phase will see GBDTs complimenting [sic] the demand for the US dollar in domestic transactions as retailers will be offered a safer, more convenient, and value-preserving medium of exchange.”
The GBDT issuance came after the RBZ began issuing physical gold coins last year. Those were snatched up by investors and only 2% of them have been redeemed, the RBZ said. The GBDT offers the advantages of divisibility and increased security, the bank claimed.
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