RTGS Balances Are A Form Of Cryptocurrency: Mangudya

Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has claimed that Zimbabwe’s real-time gross settlement (RTGS) system or electronic money is a form of cryptocurrency. The governor who recently banned trading in cryptocurrencies and shut down Zimbabwe’s biggest cryptocurrency exchange, Golix,  told Bloomberg Television that cryptocurrencies were not new to Zimbabwe and that the central bank was working on understanding blockchain as well. Mangudya who is part of the delegation which travelled with President Emmerson Mnangagwa to New York, United States for the United Nations General Assembly was asked,

“What role do you think the cryptocurrency could have at the central bank?” to which he replied:

Ah! I’m on record of saying that Zimbabwe is not new to cryptocurrencies. Basically, it’s an electronic dollar… electronic money. Our RTGS’ that we have got in Zimbabwe are basically electronic money, which is akin or similar to cryptocurrencies. So we are only using those in terms of the nature but otherwise… we are studying them as the central bank, the blockchain, the big data…through our fintec group.

Watch the full interview below:

Video: John Mangudya Interview With Bloomberg Says He Sees A Positive Investment Environment

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John MangudyaReserve Bank of Zimbabwe

John Panonetsa Mangudya is an economist and the current Reserve Bank of Zimbabwe governor. Mangudya, who sits on many local and international boards .He was made RBZ governor after the expiry of Gideon Gono's term in 2014. He had been CBZ Holdings Ltd Chief Executive... Read More About John Mangudya

The Reserve Bank of Zimbabwe (RBZ) is the central bank of Zimbabwe. Its offices are located at number 80 Samora Machel Avenue in Harare. The Reserve Bank of Zimbabwe operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The Act provides... Read More About Reserve Bank of Zimbabwe


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