What is ZimX Finance?

ZimX Finance is a UK-registered fintech company building cross-border payment infrastructure between the UK and Zimbabwe. It is developing business payments, the ZiGX digital settlement asset, and compliance-first solutions for the UK-Zimbabwe corridor.

ZiGX is being developed by ZimX Finance as a reserve-backed digital settlement instrument designed to reduce friction and cost in UK-Zimbabwe cross-border transactions. Designed to be backed at least 1:1 by eligible reserve assets at launch, subject to custody finalisation and regulatory readiness. No reserves have been established and no ZiGX tokens have been issued at the date of this publication.

What is IMTT and how does it affect Zimbabwe payments?

IMTT (Intermediated Money Transfer Tax) is a tax levied by Zimbabwe on electronic money transfers. Under the Finance Act 2025, IMTT paid is now deductible for corporate taxpayers, which changes the cost structure for cross-border business payments.

Is ZimX Finance regulated?

ZimX Finance is not authorised or regulated by the FCA and holds no FCA permissions. No financial products are live and no customer money is held. Blackmass Enterprises Ltd is registered in England and Wales.

What is the Zimbabwe Finance Act VASP framework?

The Zimbabwe Finance Act 2025 introduced a regulatory framework for Virtual Asset Service Providers (VASPs), establishing rules for digital asset businesses operating in Zimbabwe. ZimX Finance is building its compliance infrastructure to align with this framework.

How does ZimX align with Zimbabwe's National AI Strategy?

Zimbabwe's 2026–2030 National AI Strategy prioritises AI-driven financial inclusion. ZiRA, the Zimbabwe Intelligent Resource Assistant, directly supports this agenda by providing AI-powered remittance comparisons, financial education, and cultural knowledge in English, Shona, and Ndebele.

What is ZiGX backed by?

Designed to be backed at least 1:1 by eligible reserve assets at launch, subject to regulatory readiness. Reserves are designed to sit with regulated third-party institutional custodians. No custody arrangement is in place, no reserves exist and no ZiGX tokens have been issued at the date of this publication. Without custody, there is no ZiGX.

How much does it cost to send money to Zimbabwe?

The average cost to send remittances to Zimbabwe is approximately 6.9% (World Bank, Q3 2025), with some providers charging up to 13.87%. ZimX Finance is building infrastructure targeting fees below 3%, aligned with the UN Sustainable Development Goal for remittance costs.

Zimbabwe Stablecoins Explained: What ZiGX Is Designed to Do

ZiGX is a proposed reserve-backed digital settlement instrument being developed for the UK-Zimbabwe corridor. Learn how it is intended to work once launched.

PRE-LAUNCH NOTICE: ZiGX is in development and is not currently available. No ZiGX tokens have been issued, no reserves have been established, and no custody arrangement is in place. All features and workflows below describe the intended future design and remain subject to regulatory approval, custody finalisation, and operational launch.

Zimbabwe's multi-currency economy — operating with USD, ZWG, and ZAR — creates unique challenges for cross-border payments. Reserve-backed digital settlement instruments may offer a solution, and ZiGX is being designed specifically for this corridor.

What Is ZiGX Designed to Be?

ZiGX is being developed by ZimX Finance as a reserve-backed digital settlement instrument. Once launched, each ZiGX token is designed to be backed at least one-to-one by eligible reserve assets, with USDC intended as the initial and primary reserve asset. Those reserves would be held with regulated institutional custodians once arrangements are finalised. ZimX Vault is planned to publish proof-of-reserves information after launch.

Planned features: - 1:1 USD parity design: Once launched, each ZiGX is intended to be redeemable for $1 USD - Reserve transparency: ZimX Vault is planned to provide continuously updated proof-of-reserves information - Compliance-first: ZiGX is being designed to meet applicable FCA and RBZ requirements - Built for settlement: ZiGX is intended for B2B and remittance use cases, not speculation

Why Zimbabwe Needs Digital Settlement Infrastructure

Zimbabwe's payment challenges are well-documented: - High remittance costs: 11.58% total cost via a Western Union cash agent - Multi-currency complexity: USD, ZWG, and ZAR all in circulation - IMTT accumulation: 4-6% cumulative tax through the value chain - Limited banking access: Mobile money dominates, but cross-border integration is poor

If launched as designed, a USDC-pegged digital settlement asset could address several of these issues simultaneously. By enabling direct digital USD settlement, ZiGX is intended to reduce the number of intermediate transfers, potentially lowering IMTT exposure and forex conversion losses.

How ZiGX Is Intended to Work Once Launched

Proposed remittance journey (UK to Zimbabwe): 1. A sender in the UK would convert GBP to ZiGX 2. ZiGX would transfer to the recipient's wallet 3. The recipient would redeem ZiGX for USD or local currency, where available

Proposed B2B payment journey: 1. A UK company would purchase ZiGX with GBP 2. Payment would settle to the Zimbabwean supplier's wallet 3. The supplier would redeem ZiGX for USD, potentially resulting in a single IMTT event instead of multiple hops

These journeys are design targets, not services available today.

Regulatory Approach

ZiGX is being developed within a compliance-first framework: - Smart contract development is complete; ZiGX is audit-gated: no audit, no deployment - The Zimbabwe VASP registration framework provides a potential regulatory pathway for future operations

The Market Opportunity

With US$2.45 billion in diaspora remittances in 2025, up 14% from US$2.152 billion in 2024 (RBZ), and Zimbabwe's Treasury projecting the UK as the leading source at 28.6% of 2025 remittances, the UK-Zimbabwe corridor may support dedicated infrastructure. Subject to regulatory approval and launch, ZiGX is intended to offer a cheaper, faster, and more transparent alternative to legacy payment rails.