The Reserve Bank of Zimbabwe, despite a warning from the IMF, issued  digital tokens backed by gold for 14 billion Zimbabwean dollars, or  around $39 million.

On May 12, the Zimbabwean central bank revealed that it had received 135 requests to purchase the cryptocurrency backed by gold, totaling 14.07  billion Zimbabwean dollars.

The official rate for the Zimbabwean dollar, according to, is 362 ZWD to USD, but the market rate is far higher, making the stash nominally worth $38.9 million.

The initial 139.57 kilograms of gold will be used as collateral for the  cryptocurrency tokens’ auction, which will take place from May 8 to May  12.

A token might be purchased for a minimum of $10 from an individual or $5,000 from a company or other organization. The tokens can be stored on  e-gold cards or in e-gold wallets and have a 180-day minimum vesting  period.