The Central African Republic (CAR) has introduced plans to tokenize over 1,700 hectares of land utilizing its nationwide meme coin, $CAR. President Faustin-Archange Touadéra made the announcement on Might 30, stating that land concessions shall be out there on-line from June by means of the Solana blockchain. The initiative goals to enhance entry and transparency in land administration.
The presidential decree authorizes using $CAR to entry the land digitally. The plot spans an space equal to almost 2,500 soccer fields. It’s situated close to the village of Bossongo, roughly 45 kilometers west of the capital, Bangui.
The decree additionally references the nation’s mining rules and a 2023 regulation that helps the tokenization of pure assets. This implies that the tokenized land could be meant for mining-related use. CAR’s mining sector has traditionally drawn overseas curiosity, together with from teams like Russia’s Wagner, which has operated gold and diamond initiatives within the area.
$CAR Token Surged 100% Forward of Announcement
The price of $CAR started rising days earlier than the official information. After buying and selling close to $0.025 on Might 26, the token surged by 100%. The token’s price reached round $0.05 on the day of the announcement. The token has gained greater than 127% over the previous week and now has a market capitalization of over $56 million. It has greater than 18,400 pockets holders.
$CAR token launched in February 2025 after a collection of social media statements by President Touadéra. He offered the coin as a nationwide experiment in unifying residents and drawing world consideration to CAR. At its peak, $CAR’s market cap reached almost $884 million, but it surely shortly declined because of unclear use circumstances and fading public curiosity. Regardless of current features, the token nonetheless trades almost 93% beneath its all-time excessive of $0.70.
Touadéra has continued to advertise $CAR by means of his social media posts. In April, he invited the highest 100 holders of the token to a private assembly in Dubai. This can be a comparable publicity technique to the one used in the course of the rollout of Donald Trump’s $TRUMP token.
Nation’s Sango Coin Challenge Discontinued
This new land initiative comes because the nation formally ends its earlier crypto experiment, Sango Coin. Launched in 2022, Sango was promoted as a digital foreign money linked to nationwide assets however finally misplaced investor assist. On April 29, the Sango crew introduced that the mission wouldn’t proceed in its authentic format however hinted at future developments beneath a revised framework.