Central African Republic to Tokenize 1,700 Hectares of Land Using $CAR
The Central African Republic plans to tokenize approximately 1,700 hectares of land using the $CAR meme coin, which is based on the Solana blockchain. This announcement follows a significant rise in the coin's value.
- President Faustin-Archange Touadéra signed a decree to initiate this tokenization.
- Starting June 2025, land concessions will be accessible online via $CAR.
- This initiative aims to enhance accessibility and transparency in land ownership.
- The decree includes provisions for mining activities linked to the tokenized land.
$CAR Coin Overview
- $CAR was launched in February 2025 to support national unity and development.
- The coin experienced a price surge of over 1,210% after presidential endorsement, raising its market cap from $68.47 million to $897.41 million within hours.
- Funds from $CAR will aid in renovating a school to improve educational opportunities.
- The coin has not yet regained its all-time high of $0.70.
- Touadéra supports cryptocurrency, recognizing Bitcoin as legal tender.