- The Tsar wants to token 1,700 hectares of land with its own Solana-based car cryptocurrency and thus signals the beginning of digitization of the local real estate market, initially for land.
- The car token rose by 127% within a week after the project became known and raised hopes, but at the same time aroused concerns about insider trade due to the widespread corruption.
The Central African Republic will token more than 1,700 hectares of state land with the help of its national meme coin to integrate blockchain technology into the national economy. President Faustin-Archange Touadéra announced the plan on May 30th and confirmed that the program would start in June and run on the Solana blockchain.
I have signed a presidential decree to tokenize over 1,700 hectares of land in the Central African Republic.
Starting June, land concessions will be accessible online using $CARdirectly on @solana.
A new era of access and transparency begins.https://t.co/d04OcRJIB7 pic.twitter.com/fzSEANEt6w
-Faustin-Archange Touadéra (@fa_touadera) May 29, 2025
The 1700 hectare parcel, which is 45 kilometers west of Bangui, will be available for digital purchase by car, the government introduced at the beginning of the year.
The decision signals that the car initiates a broader shift towards the use of digital assets for economic restructuring and thus achieved a new phase in the expanding crypto efforts. The tokenization process is supported by a presidential decree that relates to cryptomining and token from natural resources to laws from 2023. This indicates that the country could be reserved for future mining farms. Overall, an area of around 5000 soccer fields is planned for tokenization.
The mining sector of the Central African Republic has achieved significant income in the past, but is faced with the accusation that foreign private companies act behind closed doors. For example, the Russian mercenary group Wagner under President Touadéra Mining activities is said to have coordinated in parts of the Zar.
A tokenization of the country could make the process of allocating and selling these properties more transparent, provide clear evidence and reduce the number of non -registered transactions in valuable regions.
Car token course increases with the announcement
The announcement had a positive effect on the market performance of the car token. The asset rose by 13.4 % on the day of the announcement and reached $ 0.05. This meant an increase of 127 % last week, with Coingecko a current market capitalization of $ 56.63 million and over 18,400 wallet owners reports.
However, prices began to rise days before the confirming message, whereby Car was traded at $ 0.025 on May 26. Although some are concerned about early trades that were made with secret information, no regulatory authority in car has yet commented on the increase in merchant times.
As CNF reported, the government introduced the car token in February to show how blockchain can be used at the national level. When the coin was introduced, President Touadéra promoted him on social media and explained that he would digitally unite people in the country. At its best, Car had a market capitalization of $ 884 million, but due to the low use and low consumer interest, it quickly decreased by 92%.
Change of politics follows the closure of Sango Coin
The step comes after the government has declared that it stops working on its digital currency project Sango Coin, which was introduced in 2022. The project, which was planned as a signature of the digital currency Car, met with delays within the company, criticism of investors and legal problems regarding the way the currency was secured and used. On April 29, the team confirmed that Sango will not be continued as before, although a new version is being considered.
The offer of a meeting in Dubai for the 100 leading owners of Car proves that President Touadéra is committed to using cryptocurrencies for national growth, even if previous projects have been screwed back.
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