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Central African Republic has launched a meme coin in what President Faustin-Archange Touadera said was a bid to raise the profile of one of the world’s poorest countries.Touadera announced the move on X late on Sunday, nearly three years after his government became the first in Africa and the second in the world behind El Salvador to adopt bitcoin as legal tender.
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Despite rich reserves of gold and diamonds, Central African Republic is deeply impoverished and undeveloped and has been gripped by rebel violence for years.
The $CAR meme coin is “an experiment designed to show how something as simple as a meme can unite people, support national development, and put the Central African Republic on the world stage in a unique way,” Touadera said on X.
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A separate account created for updates and announcements on $CAR was suspended by X as of Monday morning, and Touadera said the government was trying to get it back online as soon as possible. The $CAR token was trading at $0.22 on Monday morning, according to cryptocurrency price tracker CoinGecko.
