The Reserve Bank of Zimbabwe’s first gold-backed cryptocurrency sale has been a success.
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The Reserve Bank of Zimbabwe has sold 14 billion Zimbabwean dollars’ worth of gold-backed digital tokens — worth around $39 million — despite a warning from the International Monetary Fund.
On May 12, the central bank of Zimbabwe announced that it had received 135 applications for a total of 14.07 billion Zimbabwean dollars to buy the gold-backed cryptocurrency.
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The Zimbabwean dollar is officially trading at 362 Zimbabwean dollars to one United States, according to XE.com — but much higher on the street — making the stash nominally worth around $38.9 million.
The crypto tokens, first introduced in April, are backed by 139.57 kilograms of gold, with the sale running
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