Share this article
Zimbabwe Halts Mobile Transactions as Hyperinflation Spurs Currency Flight
Zimbabwe's central bank, seeking to block attempts to avoid the country’s hyperinflation, halted all transactions conducted by "mobile money agents" this week.
Updated Sep 14, 2021, 8:58 a.m. Published Jun 30, 2020, 9:17 p.m.
Make us preferred on Google
Zimbabwe's central bank, seeking to block attempts to avoid the country’s hyperinflation, halted all transactions conducted by "mobile money agents" this week, and limited payment sizes through other processors.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- This impacts potentially up to 85% of all transactions.
- Residents with money stored in one of these mobile providers will need to visit a local bank to withdraw their funds.
- In a statement, the Reserve Bank of Zimbabwe said the move is necessary to "[p]rotect consumers on mobile money platforms which have been abused by unscrupulous and nonpartisan individuals and entities to create instability and inefficiencies in the economy."
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Meta and Microsoft continue going big on AI Spending. Here's how bitcoin miners could benefit
In its fourth quarter earnings report, Meta said capital spending plans for 2026 should be in the range of $115-$135 billion, well ahead of consensus forecasts.
What to know:
- Fourth-quarter earnings results from Microsoft (MSFT) and Meta (META) suggested no slowdown in AI-related spending.
- Microsoft highlighted that AI is now one of its largest businesses and pointed to long-term growth.
- Meta projected sharply higher capital spending in 2026 to fund its Meta Super Intelligence Labs and core business.
Top Stories
