Central African Republic delays listing Sango coin to 2023

Quick Take

  • The listing of Sango, the Central African Republic’s national currency, will be delayed to the first quarter of next year, according to the project’s Telegram feed. 

The listing of Sango, the Central African Republic's national cryptocurrency, has been delayed until the first quarter of 2023. 

Market conditions and seasonal factors such as the holiday season were cited as reasons for the delay by moderators of the project's Telegram channel.

CAR’s President Faustin-Archange Touadéra announced Sango Coin as the country’s national crypto in July. It is set to be used as part of the country’s plans to tokenize its mineral resources.

The cryptocurrency's public sale also began in July, with 200 million Sango Coins available for purchase at a price of $0.10. Investors have been promised a 5% return of their stake at the moment of listing. 

Sango Coin will run on a bitcoin sidechain, as previously reported by The Block. This sidechain is reportedly similar to Blockstream’s Liquid Network with a two-way peg mechanism. Bitcoin and Sango Coin will be the tokens in the peg architecture.

CAR became the first African nation, and the second in the world, to adopt bitcoin when it recognized BTC as legal tender in April.


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