Zimbabwe launched a new gold-backed digital currency in an effort to halt re-dollarization, which the administration of President Emmerson Mnangagwa worries could destroy the country's already struggling economy.
The digital tokens, also known as Zimbabwe Gold which are primarily measured in milligrams, can be used for transactions by both private individuals and businesses.
They can be purchased via banks in ZiG, while bank customers can make purchases with ZiG accounts through POS systems or online payments.
Zimbabwe introduced gold coins in July 2022 to be used in peer-to-peer and peer-to-business transactions, as well as serve as a store of value as the local currency continued to depreciate against major currencies.