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Central African Republic launches Sango Coin

Central African Republic has launched Sango coin. The coin will go on sale on July 21 and will be priced at $21 million

By Staff

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The Central African Republic (CAR) announced on Friday that it will begin selling a cryptocurrency, Sango Coin, which will be worth $21 million next week, despite a general downturn in the crypto sector and doubts about the CAR project’s viability in a poorly connected, war-torn nation.

According to the Sango project website, the Sango Coin described as a national digital currency will go on sale on July 21st with a minimum investment of $500 to be paid in cryptocurrencies, including bitcoin (BTC) and ethereum (ETH).

CAR recently accepted bitcoin as legal tender in April, despite claims that the country still has limited internet and electrical availability. Crypto experts and industry leaders such as the International Monetary Fund (IMF)were really surprised by this move and drew words of caution.

Although the crypto market has been quite volatile, creating doubts among investors and traders, this hasn’t changed CAR’s enthusiasm for cryptocurrencies.

Within the Central African Republic’s initiative, overseas traders will be capable of purchasing citizenship for $60,000 price of crypto with the equivalent Sango Cash held as collateral for 5 years and “e-residency” for $6,000 held for 3 years based on the Sango web site.

A 250 metre sq. plot of land is listed as $10,000, with the Sango Cash locked away for a decade.

According to the website, 12 additional coin sales may occur, with the price increasing each time. Numerous details such  as the technology being used, the companies backing the launch and whether the token’s value would be free-floating or fixed remain unclear.

According to the terms and conditions of the Sango funding platform, unused Sango Cash cannot be reimbursed or converted back into other cryptocurrencies.


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