Zimbabwe U-Turns on Crypto, Looking to Stabilize Local EconomyThe Reserve Bank of Zimbabwe, the country’s central bank, is considering a regulatory sandbox for crypto companies in an apparent change from its previous anti-cryptocurrency stance. The proposed sandbox is reportedly part of a broader agenda by authorities in Zimbabwe to revamp the nation’s financial sector, which has seen massive hyperinflation since 2007.
Meanwhile, Zimbabwe’s government is also partnering with Apollo Fintech to develop a gold-backed cryptocurrency for the country. The collaboration is expected to allow Zimbabweans to have access to the Apollo wallet for digital-currency payments.
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