Central African Republic launches crypto initiative Sango

Photo of pinned Bangui on a map of Africa. May be used as illustration for traveling theme.

The Central African Republic (CAR) has launched the digital monetary system Sango aimed at modernising and uplifting the country’s economy and tokenising the country’s natural resources.

At the launch, President Faustin-Archange Touadéra stressed that ‘For us, the formal economy is no longer an option.’

Citizen identity and ownership of assets will also be tokenised as non-fungible tokens (NFTs).

The Sango Coin and The Crypto Island, a metaverse platform, are also in development.