The Central Bank of Zimbabwe has reportedly begun a “trial run” to test the feasibility of issuing a gold-backed digital currency that would be used as a means of payment, Bitcoin.com reported. The digital currency would be accepted as legal tender for peer-to-peer transactions and is part of a series of measures by the Reserve Bank of Zimbabwe (RBZ) aimed at stabilizing the local currency.

Nelson Mupunga, RBZ executive director of economic research and policy, reportedly said the digital currency will serve as an alternative to the U.S. dollar and other foreign currencies. “We are at an advanced stage; we are in the testing phase right now. Very soon, we will allow the gold digital token to be used for transaction purposes, just like someone buys foreign currency from the parallel market. But at the same time, we can trade with it. So, the token is coming and will fulfil the same function.”