The Reserve Bank of Zimbabwe (RBZ) has launched a gold-backed digital currency to reduce the country's reliance on the US dollar and mitigate the effects of hyperinflation. The Zim digital currency is tied to the market value of gold, unlike Nigeria's e-Naira, which is backed by fiat currency. Investors can purchase the digital token at a minimum price of $10 for individuals and $5,000 for corporations. The Zim gold-backed currency will complement the Mosi-oa-Tunya coins that were launched in 2022, and holders of physical gold coins can exchange them for gold-backed digital tokens. However, some critics, including the International Monetary Fund (IMF) and Zimbabwe's former finance minister, have raised concerns about the digital currency's risks, including financial stability and governance risks. The digital currency will be issued in two phases, with the first phase involving the issuance of gold-backed digital tokens for investment purposes, while the second phase will allow the tokens to be used as a means of payment and a store of value.

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