After Bitcoin, RCA launches its own cryptocurrency: Sango Coin!

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Which country has adopted bitcoin as its official currency? Since September 2021, El Salvador has made bitcoin its official currency. This “experiment” made headlines. Since then, all economists have closely followed El Salvador. But we almost forget that a second country has adopted bitcoin as its official currency: the Central African Republic! The country has also just released a token, the Sango coin. Let’s go back to the crypto shift adopted in the Central African Republic.

Central African Republic and Bitcoin

Bitcoin has been in effect since April 27, 2022. official currency of the Central African Republic. The country thus follows the movement launched by El Salvador in September 2021. The announcement made less noise because it was relatively inconspicuous. In fact, CAR president Faustin-Archange Touadera at the time contented himself with a simple tweet. On Twitter, the President announced that “there will be more” … But what?

What is a Sango coin?

Simultaneously with the official launch of bitcoin in the country, the president paved the way for another cryptocurrency, the Sango coin. What is a crypto sango coin?

“Sango means the language of money and wealth. Cryptocurrency helps the poor to control their investments “Faustin-Arcangelo Touadéra, President of the Central African Republic

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Hence, this new cryptocurrency will used in conjunction with bitcoin in the country. In a tweet dated July 3, 2022, the President of the Central African Republic compared the Sango coin to the new “digital gold”.

“Gold has been the engine of our civilization for centuries. In our day, digital gold will serve the same purpose in the future. »Faustin-Arcangelo Touadera, President of the Central African Republic

The sale of the Sango Coin token has begun!

The Sango coin has now become a reality in the country. In fact, sales began on July 25, 2022, as announced on Twitter. Sales at Sango’s corner happen in 13 cycles. Currently, 210 million sango coins are issued within one month. The price of a Sango coin is $ 0.10. Eventually, it will rise to $ 0.37. In this way, ordering by order of arrival can benefit from the advantageous price. In the end, 4.2 billion sango coins will be distributed. Buyers of Sango Coins must lock their token for one year. At the time of writing, there are approximately 198 million coins left to distribute. In other words, around 12 million coins have already found a buyer!

This new cryptocurrency is designed to help people investing in the country’s natural resources. The aim is also to attract investors to the country. How ?

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For example, Sango coin holders will soon be able to do this. obtain citizenship of the country. To do this, they must lock in the equivalent of $ 60,000 in Sango coins for 5 years. After 5 years, the tokens will be returned to them.

Other services are also available for Sango Coin holders. You too can take advantage of it electronic living room or “electronic residence”. This administrative status is distinct from citizenship. You can take advantage of it favorable tax conditions and from simplified administrative procedures. The “ticket” is cheaper than getting citizenship. In fact, to have an “E-Residence”, people have to lock up the equivalent of $ 6,000 in Sango coins for 3 years.

Another possible service concernsBuy land. With $ 10,000 worth of Sango coins locked in for 10 years, people can purchase a 250-square-foot piece of land. These lands will be located in the country’s capital, Bangui, and more precisely in the (future) area dedicated to cryptocurrencies. This country will also be “present” in the developed metaverse.

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