Demand Surges for RBZ Gold-backed Digital Tokens: ZW$5.2 Billion Allocated
RBZ Gold-backed Digital Tokens Issue No. 44/2024 saw a flurry of interest as the Reserve Bank of Zimbabwe disclosed the outcomes of its auction held on March 28, 2024. The bank received a total of 13 applications, amounting to a staggering ZW$5,205,856,417.28. Remarkably, the entirety of this sum was allotted, indicating robust demand for the gold-backed digital tokens.
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In this auction, priced at ZW$1,795.84 per milligram of gold, successful applicants secured a total of 2,898,842.00 milligrams of gold. This translates to approximately 2.90 kilograms of gold, contributing to a cumulative purchase of 917.28 kilograms since the inception of the program. Notably, the Reserve Bank of Zimbabwe has underscored the continuous availability of these tokens, with applications accepted through banking channels and issuance taking place on a daily basis.
