It has been announced by the president of the Central African Republic, Faustin-Archange Touadéra, that the country’s government is currently seeking out ways of backing cryptocurrency in the country after a tremendous fall.
Sango, the Central African Republic crypto initiative, is said to launch at the beginning of July. Various experts have been brought on board to ensure seamless and fast integration of the CAR into the digital currency ecosystem.
Sango’s ambitions lie in the creation of the first-ever legalized digital currency hub in the world in hopes of luring firms and investors. Additionally, the project aims to build a “crypto island”, which is, in the president’s words, a unique financial sphere with equal parts of digital and physical space.