Zimbabwe Launches Gold Token Payments

Zimbabwe has declared a new currency, Zimbabwe Gold (ZiG), as legal tender, usable for day to day payments.

"Banks will maintain dedicated ZiG accounts and intermediate transactions in ZiG in the same way they intermediate transactions in local and foreign currency," said John Mangudya, the governor of the Reserve Bank of Zimbabwe.

No blockchain is being used for the token. Instead, Zimbabweans can reach out to their own commercial bank where they can buy a minimum of $10 in ZiG.