GBDT (digital token)

Gold-backed digital token, abbreviated as GBDT is an investment instrument used in Zimbabwe. It was formerly known as ZiG, but its name was taken by a newly created gold backed currency, the Zimbabwean ZiG, thus renaming this investment instrument to GBDT. The digital coins are not loanable.

Background
Zimbabwe has been struggling with inflation and exchange rate instability since reintroduction of Zimbabwean Dollar in February 2019. In a bid to restore order and stopping speculative behavior on local currency, the central bank introduced a gold backed digital coin, which have some currency features.

Features
The value of one GBDT token unit was defined as one milligram of 99% fine gold on the first day of trade for the currency.

Performance
A total of 736.5 kg was bought by corporates and individuals as of 28 February 2024, under this scheme.