Apollo Fintech, a platform offering innovative fintech solutions for industries, announced today that it has reached an agreement with CBZ Bank, a state-owned commercial bank in Zimbabwe to develop three new products.
Apollo Currency twitter page reported today that:
“We are excited to announce that Zimbabwe will be a priority country in implementing national solutions. Apollo will be working with CBZ, a gov backed entity and the largest bank in Zimbabwe, to develop and implement 3 of Apollo’s national solutions for the Nation of Zimbabwe.”
Cryptolydian reported earlier this month that, Zimbabwe’s Reserve Bank (RBZ) has drafted a proposal regulating crypto transactions with rumors Apollo Fintech teaming up in its Issuance. For a long time Zimbabwe was a destination of cryptocurrency investors. But apart from some rumors after the government in Oct 2019 banned forex trading, the fate of Bitcoin in this country has been uncertain.
Partnership with Apollo Fintech on Crypto Issuance
Earlier this month, TECHZIM media outlet reported that, a widespread belief in the launch of digital currencies will be announced by the Zimbabwean government along with other African states in partnership with Apollo Fintech.
Rumors revealed that it will be a gold-backed coin, and Apollo Fintech’s CEO recently confirmed that they are working on a gold-backed coin with a country.
Stephen McCullah – CEO of Appollo Fintech said:
“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.”
McCullah also suggested previously working “on more than one solution” on Xangle with the Zimbabwean government, a platform that aggregates crypto-related announcements.