Central African Republic to Tokenize Land Using National Solana Meme Coin
The Central African Republic's national meme coin, $CAR, surged ahead of President Faustin-Archange Touadéra's announcement regarding the tokenization of over 1,700 hectares of land. Starting in June, land concessions will be available online using $CAR on the Solana blockchain. The presidential decree also indicates potential mining activities linked to the land, which is near Bossongo, 45 km from Bangui. $CAR rose 21% to $0.05 and is up over 127% in the past week, with a market cap of $56.63 million and over 18,400 holders. Launched in February, $CAR peaked at a market cap of $884.31 million but has since fallen 92.7% from its all-time high. The tokenization initiative follows the winding down of the controversial Sango Coin project, which aimed to establish a national digital currency.
