Central African Republic President Faustin-Archange Touadéra presented the country’s national flag at a virtual event broadcast on Sunday. cryptocurrency introduced Sango Coin as its currency.
At the virtual event dubbed the “Sango Genesis Event,” the country’s president outlined his plans for the use of Bitcoin and crypto.
“Sango Coin will be the next generation currency for the Central African Republic,” President Touadéra said in his speech.
The landlocked African country became the first country on the continent to recognize Bitcoin as its official currency in April.
New Project of Bitcoin Country Central African Republic Prepared Social Media Channels
When the website of the Sango Coin project of the Central African Republic is examined, it is seen that there is a countdown timer on the site.
However, it is noteworthy that the project has already opened many social media channels, including Twitter, Reddit, Facebook and YouTube.
The first country to accept Bitcoin as its official currency was El Salvador from the Central American continent.
Such a move by El Salvador, one of the poorest countries in the region, was criticized by some. However, the second country to accept BTC as its official currency was the Central African Republic, one of the poorest countries of the African continent.
However, many economic institutions, especially the IMF, warned that El Salvador’s BTC move could put the country at risk.
*Not investment advice.