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Physical version of gold-backed token replaces Zimbabwe dollar
30.4.2024
The country has struggled with an unstable currency for years, but now it will have one backed by reserves three times larger than its issuance
Gold-Backed PAXG Token Spikes to $2.9K Amid Geopolitical Tensions
14.4.2024
Bitcoin traded at a perfect negative correlation to PAXG in a sign of weak demand as a geopolitical hedge, according to one observer
Zimbabwe’s Central Bank Launches Gold-and Forex-Backed ‘Structured Currency’
6.4.2024
The Reserve Bank of Zimbabwe has introduced a foreign exchange and gold-backed “structured currency” to replace the struggling local currency. The structured currency banknotes will be “fully convertible into the reserve currency on demand.” The central bank has also reduced...
SwissGold Crypto AG Launches Gold-Backed NFTs for Wealth Preservation
7.11.2023
PRESS RELEASE. Zug, Switzerland – SwissGold Crypto AG, a Swiss-regulated crypto issuer, introduces a novel solution to the wealth preservation challenge in times of inflation and uncertainty: gold-backed non-fungible tokens (NFTs). Gold’s enduring stability, in contrast to depreciating fiat...
Gold Heats Up, China’s Gold-Backed Bond Move, and the 10-Year Treasury Note’s Ominous Rise
21.10.2023
In the turbulent macroeconomic landscape marked by clashes in Ukraine and Israel, and with the Fed’s Jerome Powell alluding to persistent and escalated interest rates, the 10-year Treasury note has soared to 5% — a milestone not seen since 2007. Amid this whirlwind, both gold...
Zimbabwe turns gold-backed digital token into payment method
10.10.2023
The Reserve Bank of Zimbabwe first introduced its new project, in which every issued digital token would be backed by a physical amount of gold held in the bank’s reserves, in April 2023
Gold-Backed Digital Tokens Now an Approved Payment Method Says Zimbabwean Central Bank
9.10.2023
Zimbabwean residents and institutions can now pay or settle domestic transactions using the recently launched gold-backed digital tokens, the central bank has said. Bank governor John Mangudya said the central bank has enlisted the services of external auditors to “validate the availability...
Gold-backed BRICS currency will be 'very hard' to deliver: Lyn Alden
22.8.2023
A BRICS common currency will be challenging to initiate and maintain, though efforts to dethrone the US dollar could have an impact on Bitcoin, says investment strategist Lyn Alden
Reserve Bank of Zimbabwe Set to Launch Gold-Backed Digital Token (GBDT) for Retail Use Following Successful Investor Interest
15.8.2023
The Reserve Bank of Zimbabwe (RBZ) has announced its advanced plans to launch Gold-Backed Digital Token (GBDT) for retail purposes following its successful reception among investors, a success the Bank hailed as "commendable" in a recent report.
During the presentation of the Mid-Term Monetary...
Zimbabwe central bank close to introducing gold-backed digital tokens into retail
14.8.2023
Physical and digital gold tokens have been a big success as investments and an inflation hedge in Zimbabwe, which continues to face triple-digit inflation
Zimbabwe Central Bank Says Gold-Backed Tokens Set to Be Used for ‘Transactional Purposes’
13.8.2023
The Zimbabwean central bank recently said it is close to rolling out gold-backed digital tokens “for transactional purposes.” According to the bank’s governor, the gold-backed digital tokens have already proven to be an effective monetary policy instrument. Central bank governor...
Putin and Ramaphosa Discuss BRICS Summit, Trade and Cooperation; Russian President to Join via Video Link
10.8.2023
Russian president Vladimir Putin and South African president Cyril Ramaphosa recently addressed cooperation, trade, and preparations for the upcoming BRICS summit. The two leaders conversed about practical cooperation and the expansion of the organization, reflecting a shared commitment...
Scarce Open Market Supply of Top Two Gold Tokens as Concentration Levels Run High Among Top Holders
18.7.2023
Over the last six months, the value of an ounce of gold has witnessed a 3.8% surge in relation to the U.S. dollar. Within the realm of cryptocurrencies, there exist two noteworthy tokens backed by gold: pax gold (PAXG) and tether gold (XAUT). Together, these tokens amass a considerable worth...
IMF Has Not Seen Specific Proposal on BRICS Currency
16.7.2023
The International Monetary Fund (IMF) has not seen any specific proposal on a common BRICS currency. However, the IMF acknowledges the presence of “slow-moving trends” indicating shifts in the currency composition of reserves and trade. The Fund’s statement followed reports that...
Robert Kiyosaki Warns US Dollar ‘Will Die’ Citing BRICS Nations’ Plan to Launch Gold-Backed Currency
12.7.2023
Rich Dad Poor Dad author Robert Kiyosaki has warned that the U.S. dollar will die. He expects the BRICS nations (Brazil, Russia, India, China, and South Africa) to launch a gold-backed currency that will kill the USD. The famous author further stressed that U.S. dollars will come flooding home...
Rich Dad Poor Dad Author Robert Kiyosaki Predicts US Dollar's Demise Imminent as BRICS Nations Soon to Unveil Gold-Backed Crypto
11.7.2023
Robert Kiyosaki – author of the famous personal finance book Rich Dad Poor Dad – is bearish on the U.S. dollar after BRICS nations reportedly agreed to establish a gold-backed currency.
The agreement, reported by Russia Today (RT) last week, will supposedly be officially announced in August at...
India’s External Affairs Minister Shuns BRICS Currency Talks, Prioritizes Rupee’s Strength Instead
11.7.2023
Members of the BRICS alliance are meeting at a summit in Johannesburg, South Africa, in August, focusing attention on the potential for the BRICS bloc to create a gold-backed reserve currency. However, Subrahmanyam Jaishankar, India’s external affairs minister, said India isn’t...
BRICS Gold-Backed Currency Will Benefit Iran, Weaken US Dollar, Iranian Official Says
10.7.2023
An Iranian official has stated that Iran stands to benefit from a gold-backed common BRICS currency. The official further asserted that such a BRICS currency would erode the U.S. dollar’s dominance and result in increased wealth for Iranians holding gold. “A tremendous change is taking place...
Treasury Secretary Yellen: BRICS Currency Won’t Threaten US Dollar Dominance
10.7.2023
U.S. Treasury Secretary Janet Yellen has stated that she does not see the U.S. dollar’s dominance being threatened by any development, including the proposed BRICS currency. Yellen stressed that all the data of which she is aware shows that the dollar is overwhelmingly used in international...
BRICS Bank Official Discusses Common Currency as Reports of Gold-Backed BRICS Currency Gain Attention
9.7.2023
The BRICS Bank’s vice president and chief financial officer has shed light on the economic bloc’s aspiration to develop a common BRICS currency. His remarks followed recent reports suggesting that Russia has confirmed the BRICS’ plan to introduce a gold-backed common currency, with...