Zimbabwe adjusts payment systems to align with new currency

The move by the Reserve Bank of Zimbabwe comes as the central bank attempts to make its new gold token usable as a means of transaction settlement.

Zimbabwe, which has been battling run-away inflation, is hoping to stabilise the local unit with the digital currency.

Reserve Bank of Zimbabwe plans to release guidelines for financial organisations in order to govern cloud migration, services and application.

Cryptocurrencies, including bitcoin, will be listed on its foreign currency only listed bourse, Victoria Falls Stock Exchange (VFEX) from today.

Latest development follows EcoCash's recent legal action against directive.

Bank announces mobile app as consumers continue to struggle amid continued cash shortages.

Central bank urges vigilance as country experiences surge in online and mobile banking.

Golix is currently not processing deposits into crypto wallets.

Zimbabwe has seen a rise in mobile, electronic and internet payments owing to liquidity and foreign currency shortages in the country.

Locals are reportedly turning to bitcoin to bypass international payment hurdles.

Call for cross-sharing of infrastructure such as point of sale systems and broadband.