The Reserve Bank of Zimbabwe is considering using gold to back digital currency as collateral for loans

ChainCatcher news, the Reserve Bank of Zimbabwe is considering the possibility of providing loans backed by gold-supported digital currency as collateral. The Zimbabwe Bankers Association stated in an email on Thursday that the central bank envisions this as a medium for future daily transactions to expand the range of financial services offered.

The association explained that the implementation of digital currency would require banks to incorporate a third currency into their systems to facilitate payments. This development opens up possibilities for banks to offer a full range of products that were previously only supported by the Zimbabwean dollar and the US dollar, as the adoption of gold-backed digital tokens has gained attention. (Source link)