What exciting news, we’ve just had a gold-backed currency announcement. The Reserve Bank of Zimbabwe (RBZ) has just announced their gold-backed digital Token (ZIG) as a means of payment from the 5th of October.

ZiG will become a means of payment for domestic transactions, in addition to its use as a store of value.

There would be adequate gold to back ZiG at any given time. 

External auditors will validate the availability and adequacy of gold to back ZiG at any given time.

A customer can buy ZIG from the bank with ZW$ or USD.

The Minimum purchase of ZIG by individuals is $10 and for corporations, it’s $5,000 or the Zimbabwean Dollar equivalent.

Once ZIG has been purchased the customer will also have a separate ZIG account in milligrams of gold.

The customer can now use either account in shops or online payments and goods and services will also be priced in ZIG.

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