Zimbabwe’s central bank introduces gold-backed digital currency for retail use
However, there are concerns about its stability, given the price of gold and fluctuations, regulatory challenges, trust, and cybersecurity.
Zimbabwe
Nigeria received nearly $60 billion in crypto value in a year
Overall, Sub-Saharan Africa received $117.1 billion in crypto value between July 2022 and June 2023, according to data from blockchain analytics firm Chainalysis.
RBZ’s CBDC set to be used for transacting in a month
The bank hopes to use the CBDC to tackle hyperinflation in the country and provide an alternate store of value for Zimbabweans.
Economist urges Zimbabwean government to consider paying civil workers in gold
Zimbabwe's government has been urged to pay civil servants with gold-backed CBDC and coins amid plunging economy.
Tanzanian central bank calls for the de-dollarization of local market
The government banned the use of USD in August 2007 and again in December 2017.
RBZ finalizes P2P platform for gold-backed CBDC
The move is aimed at reducing the demand for US dollars and providing an alternative currency and store of value.
Bitcoin fraud suspect denied bail in Zimbabwe
The suspect allegedly duped an eye specialist of $457,000 worth of cryptocurrency between October 2021 and March this year.