The president of the Central African Republic (CAR), Faustin-Archange Touadera, yesterday unveiled the national digital currency Sango Coin, The Block has reported.
According to him, the currency will modernize the country's infrastructure and become a "gateway to the natural resources of the Central African Republic."
The country's government has previously announced it intends to tokenize the country's natural resources, including oil and diamonds.
Touadera has said:
"Sango Coin will be the next-generation currency for the Central African Republic."
The country plans to use the Sango Coin to create a crypto economy based on private investment, including the creation of a crypto-island on the Ubangi River.
According to the country's finance minister, Herve Ndoba, the national digital currency is backed by Bitcoin.
