According to an announcement on the country’s official Facebook page, the Central African Republic (CAR) is set to launch a cryptocurrency investment hub.
The post revealed that the project would be known as “Sango.” According to the statement, President Faustin-Archange Touadera said
“The formal economy is no longer an option. An impenetrable bureaucracy is keeping us stuck in systems that do not give a chance to be competitive.”
President Touadera had hinted about the project on May 21 when he tweeted that “very soon we will announce the next planned phase” with the hashtag #Bitcoin.
As a nation, we aim for a bright #future with #peace & #stability for our next generations. Today marks a month since we’ve started on this path. Other important #news will follow. Very soon we will announce the next planned phase.#Bitcoin #crypto #CAR #RCA
— Faustin-Archange Touadéra (@FA_Touadera) May 21, 2022
The Facebook post included a link to the landing page for sango.org, where visitors can register for the waitlist. Those who register for the waitlist will get a link to a 24-page presentation.
Central African Republic has huge Bitcoin plans
The document includes additional information about the project’s objectives, including building the first legal CryptoHub in Africa, taking Bitcoin Legacy to the next level, and Sango – The Crypto Island.
Following the unanimously adoption by the National Assembly of the #BTC legal tender status, we are pleased to showcase the first concrete initiative! It goes beyond politics&administration & has the potential to reshape #CAR’s financial system! #bitcoinhttps://t.co/1oxLHOen6q
— Faustin-Archange Touadéra (@FA_Touadera) May 24, 2022
Additionally, it plans to establish a Digital Nation Bank, develop a crypto wallet, and facilitate land purchases using Bitcoin. Crypto firms will also have access to the natural resources in the country, and…
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