The Central African Republic (CAR) is preparing to launch the continent’s first major cryptocurrency investment center to attract investors in digital assets.
The CAR will launch the first legal cryptocurrency investment center on the continent. This was announced by the President of the Central African Republic Faustin-Archange Touadéra, Reuters reports.
The CAR government plans to start creating a crypto infrastructure in the near future. In this regard, Touadéra announced the launch of the country’s first major crypto initiative called Sango. The country’s government previously introduced the project as a legal cryptocurrency investment platform, but there is no detailed information about the crypto hub even on the center’s official page.
Working on the launch of the cryptocurrency investment center in the CAR aims to attract more digital asset investors. “The construction of the first legal crypto hub in the heart of Africa will improve crypto experience by taking Bitcoin adoption to the next level,” the presidential statement reads. Touadéra stressed that creating the new platform is intended to fight bureaucracy and encourage competition.
The President expressed his hope that the crypto hub would not only be a tool to transform the CAR economy but also increase the availability of digital assets throughout Africa. He is confident that the Sango project has the potential to change the country’s economic vector through investments in cryptocurrencies, creating an international example of digital asset adoption.
Recall that the Central African Republic’s adoption of Bitcoin (BTC) as legal tender has boosted venture funding for African blockchain startups. Previously we wrote about how cryptocurrencies can help drive Africa’s economy.
