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Bitcoin’s First African Adopter Plans Its Own Digital Currency

  • CAR to roll out currency called Sango Coin in third quarter
  • World Bank, IMF expressed concern about CAR’s crypto program
Faustin-Archange Touadera
Faustin-Archange TouaderaPhotographer: Valeria Mongelli/Bloomberg

The Central African Republic, which adopted Bitcoin as legal tender in April, is poised to roll out its own digital currency as part of a plan to develop its financial industry, according to the nation’s leader.

“Sango Coin will be the currency for the next generation,” President Faustin-Archange Touadera said in a virtual briefing. The digital money may be rolled out in the third quarter.