This African country had a considerable increase in the world of cryptocurrencies since the prohibition of foreign currencies in 2019, which gave way to digital currencies to face inflation.
Bitcoin is one of the most used currencies by the habitants.

The Reserve Bank of Zimbabwe (RBZ) showed a proposal to regulate crypto assets. Accordingly, the country worked out a legal framework, to provide clear guidelines to crypto companies and protection to investors from potential scams.

Zimbabwe is a very important point for crypto trading. When the government banned foreign currency, cryptocurrency trading increased exponentially. The region's financial entity had no choice but to adapt to the global trend.

Fintech, insurance and payment systems, are some alternative options that we can mention before traditional banking, which begin to gain their place in the financial area, which will soon be estimated to be regulated.

It is one of the African countries with the greatest evolution in the subject of Smartphones, Bitcoin caused its impulse, to the extent that it is totally common to see daily payments made with this virtual currency.

The government of Zimbabwe has created a plan to launch a new official currency in the country called RTGS, due to the great success that Bitcoin had. They took several steps, such as closing two large cryptocurrency exchange rates, the reason of this is that, their practices were considered as violations to the exchange control established in the country.

However, the habitants of this region continue to use this currency on a daily basis because they consider it as a stable and accessible currency.

If you wish to set up in Zimbabwe, you can contact Foster Swiss advisors. We can answer all your questions. Contact us through info@fosterswiss.com