The Reserve Bank of Zimbabwe (RBZ) has introduced a digital token backed by gold as legal tender.
It said the objective was to aid in the stabilisation of the struggling Zimbabwean dollar and to protect citizens from currency instability.
The tokens will be a form of electronic money backed by the Central Bank's gold reserves.
RBZ intends to allow Zimbabwean dollar holders to exchange their cash for gold-backed tokens, providing insurance against the local currency's volatility.
The value of the Zimbabwean dollar has fallen substantially over the last year, with one US dollar currently worth around 1,000 Zimbabwean dollars, compared to 150 Zimbabwean dollars a year ago.
Zimbabwe now uses both Zimbabwean and US dollars.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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