Central Africa Rolls Out Sango Coin Amid Transparency, Credibility Worries

The Central African Republic (CAR)’s authorities unveiled a new crypto project, dubbed Sango Coin, which President Faustin-Archange Touadéra launched as the country’s national cryptocurrency in an online event, but hopes for a major push for crypto adoption in Africa have been partially replaced by fears that the initiative could actually undermine the continent’s increasing trust in crypto.

“I have always wanted to leave something precious as legacy to future generations,” Touadéra said during the event. “My vision is to educate the youth so that it embraces new technologies, and also cryptocurrencies.”

The president said it is estimated that 57% of the African population does not have access to banking services, but that modern technologies provide solutions to this challenge.

Source: https://cryptonews.com/news/central-africa-rolls-out-sango-coin-amid-transparency-credibility-worries.htm