The Central African Republic has launched its government-backed cryptocurrency hub called Sango – named after one of the country’s official languages.
President Faustin Archange Touadéra launched the hub on Sunday in a live announcement on social networks.
It follows the country’s adoption of Bitcoin as legal tender in May, only the second country after El Salvador, to adopt Bitcoin as legal tender.
“Sango means the language of money and wealth. Cryptocurrency helps the poor gain control over their investment,” President Touadéra said.
He likened the project to “digital gold”:
