The Central African Republic has unveiled plans to launch a cryptocurrency hub as a legal crypto investment platform through the initiative of its National Assembly.
Sango is a digital currency infrastructure fully supported by the government of CAR’s President Faustin-Archange Touadera.
Touadera says that launching a cryptocurrency hub in Africa will increase the adoption of cryptocurrency in the region, taking it to the next level away from traditional investments.
The president adds that the adoption of Bitcoin will offer unimaginable possibilities in the country’s development and transformation. He termed crypto and the hub as the tools that will shape the future.
Touadera opined that the formal economy was not an option due to bureaucracy. The news comes after the African nation made bitcoin a legal tender, becoming the second country globally after El Salvador.