Central African Republic launches official cryptocurrency hub ‘Sango’


Shortly after the Central African Republic (CAR) approved Bitcoin (BTC) as a fiat currency, local governments are moving to provide a digital currency infrastructure.

CAR Chairman Faustin-Archange Touadera tweeted on May 24th announcing the launch of the country’s first major crypto initiative dubbed “Sango”.

The creation of CAR’s crypto hub came shortly after the National Assembly unanimously adopted Bitcoin as a fiat currency, Tuadera notes.

The President of CAR previously introduction The Sango project was registered as a legitimate cryptocurrency investment platform on the official government Facebook page on May 24th. The Sango platform is positioned as CAR’s “first crypto initiative” and is dubbed the second official language of CAR after French.

According to the official Sango website mentioned in the statement, the Sango platform is Initiate In the National Assembly, it is supported by the central government and the president.

“Building the first legal cryptocurrency hub in the heart of Africa will take Bitcoin adoption to the next level and enhance the cryptocurrency experience, potentially bringing the world’s most unique space,” the presidential statement said.

Touadera noted that the adoption of Bitcoin offers “unimaginable possibilities” for the development and change of the country, saying:

“Cryptocurrency Hub, Bitcoin […] And cryptocurrency is a tool that will redesign the future of our country. Sango can usher in a new economic era with enormous potential unimagined by Africa or the rest of the world.”

The president also said that it is his greatest desire for the Sango project to make cryptocurrency accessible to everyone, creating an international example of how cryptocurrency benefits can be a vector of national economic performance. President: “The official economy is no longer an option” famousNew platforms like Sango aim to solve bureaucracy problems and promote competition, he added.

RELATED: Crypto users in Africa will grow by 2,500% in 2021 report

CAR became the first country in Africa to adopt Bitcoin as a fiat currency and the second country in the world after El Salvador.

With crypto adoption growing on the continent, many countries in Africa are moving to adopt digital assets. In April, several African countries such as Cameroon, Democratic Republic of Congo and Republic of Congo announced plans to adopt TON blockchain as cryptocurrency and blockchain to drive future national economic development.

Leave a Comment