The Central African Republic (CAR) has announced a large-scale initiative to tokenize over 1700 hectares of state land, which can be purchased using the CAR meme coin on the Solana blockchain.
This is reported by Business • Media
Details of the CAR Crypto Project Launch
The President of CAR, Faustin-Archange Touadéra, officially confirmed the launch of a new crypto project that involves the sale of land plots through the national token CAR. The land, located 45 km west of the capital Bangui, near the village of Bossango, will be available to users starting in June 2025. The initiative is based on provisions of the Mineral Code and legislation regarding the tokenization of natural resources, which may indicate further use of the plots for gold or diamond mining.
“Starting in June, land plots will be available online through CAR, directly on Solana. A new era of access and transparency is beginning,” wrote Touadéra.
Market Reaction and Future Prospects
Following the announcement, the price of the CAR meme coin rose by 21% in one day, reaching $0.05. Over the week, the increase amounted to over 114%. The market capitalization of the token climbed to nearly $50 million, and the number of holders exceeded 18,400. Despite this, since its launch in February 2025, CAR remains 94.5% below its all-time high.
The launch of the new project comes amid the winding down of the previous initiative, Sango Coin. In April, the Sango team announced the completion of the initial project and a possible relaunch with a new strategy. Despite criticism in the crypto community and suspicions regarding the legitimacy of the meme coin, Touadéra continues to promote CAR as a tool for national consolidation and positioning the country on the international stage.
As part of the token promotion, Touadéra held a meeting in Dubai with a hundred of the largest investors among CAR holders, following an approach similar to Donald Trump’s campaign with the TRUMP token. At the same time, the launch of the CAR meme coin was met with skepticism from the crypto community, and the president’s video address was deemed suspicious in 82% of cases during analysis.