6 Key points to note when transacting with ZiG

The Reserve Bank of Zimbabwe (RBZ) has highlighted the key points to note when transacting with ZiG which are as follows:

1. As a bank customer you approach your bank to buy ZiG tokens (denominated in milligrams) payable in ZW$ or US$.

2. Minimum purchase of ZiG by individuals is US$10 and corporates is US$5 000 or the Zimbabwean Dollar equivalent.

3. Once ZiG has been purchased, the holder will, in addition to their existing bank account, now have a ZiG account denominated in milligrams of gold.

4. The bank client can now transact using their ZiG account through swipe and online payments.

5. A holder can keep ZiG balances for transacting or store-of-value purposes with a redemption option in US$ or ZW$ depending on their preference after a 180-day vesting period.

6. Goods and services will also be priced in ZiG.