As the first country to adopt Bitcoin as legal tender in Africa, the Central African Republic appears to be struggling with its investor-oriented token, Sango Coin.
Central African Republic President Faustin-Archange Touadera outlined that the Sango crypto hub project will foster financial inclusion by removing the barriers to entry in the banking sector.4069
The Sango project’s plans include building a "legal crypto hub," expanding the adoption of Bitcoin, and creating a “crypto island” — a special economic zone in the metaverse.8275
The World Bank has said “it will be physically impossible” for the lender to fund the planned Sango crypto hub and voiced concerns regarding the country’s adoption of Bitcoin.4184
The Central African Republic prepares to launch its first major crypto hub shortly after the National Assembly adopted Bitcoin as legal tender.2619