Zimbabwe introduces a new gold-backed digital currency

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Date: October 9, 2023

Zimbabwe has unveiled a groundbreaking digital currency called 'Zimbabwe Gold' (ZiG), backed by gold in milligrams.
This move is part of the country's de-dollarization strategy and efforts to combat inflation.
The Reserve Bank of Zimbabwe (RBZ) is offering ZiG for both individuals and corporations, providing a stable and versatile means of transacting.
By linking the digital currency to gold, Zimbabwe aims to restore confidence in its monetary system and attract investment, potentially setting an example for other nations facing similar economic challenges.
ZiG represents a significant step towards financial stability and innovation in Zimbabwe.

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Sources: thehill.com

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Source:patents.google.com

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Source:lehighvalleylive.com

Malaysia is exploring the adoption of the gold dinar

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This endeavor reflects Malaysia's commitment to sound economic management and its respect for Islamic financial traditions, with potential implications for both domestic and international financial systems.