The Central African Republic (CAR), the second country to declare Bitcoin as its legal currency, continues its effort to increase Bitcoin adoption with plans to tokenize its natural resources.

The government of the Central African Republic will offer access to your token with mineral resources to crypto and digital asset projects that are creating assets in the country. The plan to tokenize natural resources will be carried out under the recently launched Sango Project.

Faustin-Archange Touadéra

The Central African Republic passed legislation last month that made Bitcoin a legal currency. Bitcoin advocates have welcomed this adoption, while opponents have criticized that it will further increase financial instability in the economically weak country.

Shortly after this development, the Central African Republic announced the Sango project, a Bitcoin investment project to show its determination to develop its economy based on Bitcoin. The first African country to legalize Bitcoin, the Sango project wants to attract foreign investors to the country.

Central African Republic Crypto

The Central African Republic is known for its mineral deposits such as diamond, copper and rhodium, apart from petroleum. In addition, gold, cobalt, manganese and limestone are mined in the country, which is rich in natural resources. The country, which has rich natural resources, is still among the least developed countries in the world.

President Faustin Archange Touadera recently responded to critics of his country's adoption of Bitcoin, saying that the formal economy is no longer an option for them, and that the current global system does not give them a chance to compete. Talking about the plan to tokenize the country's natural resources, Touadera said that it will be an extremely effective way to create new investment opportunities in the country.

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