Zim Government To Partner With Fintech To Issue Gold-Backed Digital Currency

Farai Mudzingwa Avatar

There’s a widespread belief that the Zimbabwean government along with other African states will be announcing Apollo Fintech as their partner in launching digital currencies.

Rumours are the coin will be gold-backed and the CEO of Apollo Fintech recently confirmed they are working with a country on a gold-backed coin:

We have gotten a large number of questions pertaining to rumors circulating that Apollo will be used in a strategy/survival MMO that is the distribution method for a gold backed coin. I want to set the record straight. It is true, and the details are coming soon.

Stephen McCullah – CEO of Appollo Fintech

Apollo claims to be the fastest blockchain in the world – which has been one of the biggest constraints of the technology since it’s inception and has limited how much cryptos can scale in the past.

Apollo’s Steve McCullah also previously suggested that they were working with the Zimbabwean government “on more than one solution” on Xangle – a platform that aggregates crypto-related announcements:

The fintech also posted a blog post on the 24th of February stating that African payments were a priority in their strategy:

that is a major priority. We have been in conference with a number of central banks to design a product that would be superior to what is available now. It will not only be for Africa, but it is a focus.

Interestingly, Apollo Fintech also currently offers a Government Bank Platform which they claim “gives a central bank the ability to conduct instant payments to and from any bank in the network using the local currency as well as foreign currency if needed.” This seems like something that could also interest our government and help them evade the effect of sanctions IF other banks were to ever join this platform.

Expectations from those close to Apollo suggest that the gold-backed solution for Zim will be launching in about a month, and we have gotten in touch with Apollo Fintech for more information.

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13 comments

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  1. Anonymous

    That should be interesting!

  2. Steveb

    If you’re not buying APL right now, what are you doing?

  3. VoiceOfReason

    Another fraud that will give crypto a bad name and Techzim with it for pushing this nonsense. Have you read their publications on medium? What is the basis for taking this company seriously? What evidence is there for claiming the Zimbabwe gvt is moving to a gold backed crypto with them? What gold reserves have we built up? Where will the gold be kept and by whom? How will conversion work?

    You know nothing Jon Snow yet desperate for clicks you publish hot air.

    1. Farai Mudzingwa

      Reporting on something is “pushing it”?? How so?

      1. April

        It’s people like you who have no vision. People probably said the same thing about the Wright brother when they talked bout wanting to invent the airplane. You will be left behind and for good reason because closed minded people should be!

    2. Glenn

      Do some research before making comments like this. It’s not helpful to the people that need this solution. Or just standby for the pending news.

    3. Nerd4Life

      Someone sounds like they don’t want this to be real? Well, we’ll soon find out which country HAS teamed up with Apollo soon enough. My bet is that it actually is Zimbabwe. But if not, whichever country it is is absolutely mind blowing.

    4. Nerd4life

      A few very negative posts here in the comments section. Well, we’ll soon find out soon enough when the news is officially released as to which African country it actually is. All points to Zimbabwe at the moment.

  4. DAVE-IT

    Interesting.

    We can’t wait to see how this plays out. These story might actually support this action if Govt is serious –
    1- Breaking US Sanctions with Cryptocurrencies – https://www.herald.co.zw/breaking-us-sanctions-with-cryptocurrency/

    The “backed by gold reserves” part is also interesting. RBZ says it isn’t a fan of crypto. Lets see…

  5. Michael Cratty

    The country has signed for a GOLD STANDARD Currency hosted on apollos 2 sec blockchain and 20 million wallets for citizens to pay for daily life-rent etc. Who the country is will be announced very soon!
    All info here from almost 2 years covering Apollo Currency APL and Apollo Fundation now rebranded as Apollo FINTECH.
    https://www.youtube.com/channel/UCUnu83Ff49Aqs3jOWR6lkaA?view

    APLFINTECH.COM

    1. Michael Cratty

      Made a mistake in spelling Foundation-fun lol

  6. Kenneth Fox

    I’ll be laughing all the way to the bank so say what you want about Apollo currency I have millions and will be having a Apollo currency party on Apollo Beach Florida next year

  7. Ali Graboski

    Apollo coin is useless