Zimbabwe backs digital currency with 140 kilograms of gold
The Zimbabwean authorities issued a digital currency, providing it with a gold reserve with a total volume of 140 kg. This is despite the warning from the International Monetary Fund that such a policy could lead to depletion of reserves. The central bank has already received 135 applications for the purchase of gold-backed digital tokens worth 14 billion Zimbabwean dollars ($12 million). The country’s authorities have announced that the second auction will take place on…
