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Central African Republic
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CAR's Official Cryptocureency Sango

16 Oct 2022   author: Mia Kallu

Sango is the native cryptocurrency of the Central African Republic, partly backed by bitcoin. The area of ​​responsibility for the currency was established in quite diverse terms. Among other things, the asset should serve as a platform for smart contracts.

Central African Republic
Central African Republic

Sango is currently in the ICO stage, which will last until the end of the year 2022. Sango will not be publicly listed until the fourth quarter of 2022. The coin should then have a market value of 45 cents of the US dollar. Until then, the authorities want to offer a deal to early investors.

Sango is currently available at ten cents per coin. In the second round of pre-sales, the price has already risen to 15 cents. The pre-sale started on July 25th. However, only about 13 million Sangos were sold in the first five days.

In addition to the possibility of investing in Central Africa, there are also options for obtaining e-Residency or even citizenship.

The CAR is the first state to implement a cryptocurrency-based citizenship program. During the ICO, Sango can only be exchanged for two currencies: Bitcoin and Ethereum.

The previous options offered by Sango seem to be designed only for a small target group. In any case, the expected success of the pre-sale has yet to materialize.

However, investors may doubt not only the potential of the digital system, but also the measures that are initially required for investing. The CAR requires full identification of all participants, although the sale is carried out specifically for cryptocurrencies.

In addition, investors may find it excessive to pay $6,000 for the CAR e-Residency, which is 10 times higher than the cost of citizenship.

The CAR is already assessing its recent political decisions as successful. Several neighboring countries have expressed interest in the system and are considering implementing it, according to a press release.


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