Sango News

Asset tokenization has been in the works for a year. The ambitious project has also included investor citizenship and an island in the metaverse.

The project has marketed Sango Coin to interested parties by offering pathways to CAR citizenship through investments.

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.

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.

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.

The Central African Republic prepares to launch its first major crypto hub shortly after the National Assembly adopted Bitcoin as legal tender.