Global Banking Monitor

Monday, September 16, 2024

Stripe employees get to sell $1bn of shares

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Zimbabwean Banks Explore Offering Loans Supported by New Digital Currency

By Pete Sadler
Image by Albrecht Fietz from Pixabay

Banks in Zimbabwe may offer loans using the newly released gold-backed digital tokens as collateral.

The digital money that the central bank envisages as eventually being used in day-to-day transactions will compel lenders “to enable a third currency in their systems” in order to facilitate payments, the Bankers Association of Zimbabwe said in an emailed response to questions on Thursday.

Read More : Zimbabwean Banks Explore Offering Loans Supported by New Digital Currency

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