The move is reportedly part of an effort to stabilize the country’s economy and the continued depreciation of the local currency against the greenback.

The Zimbabwe dollar was reintroduced in 2019 to revive the local economy, but volatility ensued again.

This automated oversight strengthens platform integrity, builds user trust and ensures that all actions are both secure and compliant with regulations.

Some of the new funds will track exchange-traded funds (ETFs) launched in the United States, such as BlackRock’s iShares Bitcoin Trust ETF (IBIT). One of the funds will be actively managed to beat the cryptocurrency’s performance.

While some Bitcoiners are still nervous about transforming or bridging their BTC for use on an EVM-compatible chain, projects like Core Chain enable users to earn yields while still maintaining custody of their Bitcoin.

With its resilience finally paying off, the industry is now setting its sights on another promising year as hopes for regulatory clarity converge with years of innovation and development.

Several banks in the Philippines are working together to create a peso-backed stablecoin, PHPX, aimed at improving cross-border payments and financial inclusion. The PHPX token is scheduled to launch between May and July.

Proposals for Bitcoin strategic reserves are gaining momentum around the world, but the idea still faces considerable political opposition due to the novelty of cryptocurrencies as an asset class.