Zimbabwe central bank sets minimum subscription price for gold-b
Zimbabwe’s central bank will begin selling the gold-backed digital currency to investors next week, setting a minimum subscription price of $10 for individuals and $5,000 for businesses and other entities.
The Reserve Bank of Zimbabwe said in a statement on Thursday that the tokens would be sold in U.S. dollars and local currency, but the local currency should be 20 percent above the voluntary buying and selling bank’s median rate. The bidding offer opened on May 8 and ended two days later. The introduction of digital tokens is the latest attempt by the southern African country to support its currency, which has lost 37 percent of its value against the dollar this year in official markets.
Prior to the news on April 28, the Central Bank of Zimbabwe will issue gold-backed digital tokens starting May 8.
The Reserve Bank of Zimbabwe said in a statement on Thursday that the tokens would be sold in U.S. dollars and local currency, but the local currency should be 20 percent above the voluntary buying and selling bank’s median rate. The bidding offer opened on May 8 and ended two days later. The introduction of digital tokens is the latest attempt by the southern African country to support its currency, which has lost 37 percent of its value against the dollar this year in official markets.
Prior to the news on April 28, the Central Bank of Zimbabwe will issue gold-backed digital tokens starting May 8.
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