Sango Coin: The Sale Of The Central African Crypto Is Launched!

Sango Coin: the sale of the Central African crypto is launched! Which country adopted Bitcoin as its official currency? Since September 2021, El Salvador has made Bitcoin its official currency. This “experiment” made headlines. Since then, El Salvador has been closely followed by all economists.

 
But we almost forget that a second country has adopted Bitcoin as its official currency: the Central African Republic! The country has also just launched a token, the Sango coin. Back to the crypto shift adopted by the Central African Republic.

The Central African Republic and Bitcoin

Bitcoin has been an official currency in the Central African Republic since April 27, 2022. In this, the country is following the movement launched by El Salvador in September 2021. The announcement made all the less noise as it was relatively discreet. 

In fact, CAR President Faustin-Archange Touadéra contented himself at the time with a simple tweet. In the tweet, the President announced that “more things were to follow”… But what?

What is the Sango coin?

At the same time as the officialization of Bitcoin in the country, the President paved the way for another crypto, the Sango coin. What is the Sango coin crypto?

“Sango means the language of money and wealth. Cryptocurrency helps the poor take control of their investments » Faustin-Archange Touadéra, President of CAR.

This new cryptocurrency will therefore be used alongside Bitcoin in the country. In a July 3, 2022 tweet, the President of the CAR compared the Sango Coin to a new "digital gold".

“Gold has served as the engine of our civilization for centuries. For our times, digital gold will serve the same purpose in the future. » Faustin-Archange Touadéra, President of the CAR".

The sale of the Sango coin token has started!

The Sango coin is now a reality in the country. Indeed, sales began on July 25, 2022, as announced on Twitter. Sango corner sales will occur in 13 cycles. At present, 210 million Sango coins are released for one month. The Sango coin price is $0.10. 

Eventually, it will move up to $0.37. The first served will therefore be able to benefit from an advantageous price. Eventually, 4.2 billion Sango coins will be distributed. Buyers of Sango Coin will have to lock their token for one year. 

At the time of writing, there are approximately 198 million coins left to distribute. In other words, around 12 million coins have already found a buyer!

This new cryptocurrency aims to help people invest in the country's mining resources. It also aims to attract investors to the country. How?
For example, Sango coin holders will soon be able to acquire citizenship in the country. 

To do this, they will need to block the equivalent of $60,000 in Sango coins for 5 years. Within 5 years, the tokens will be returned to them.
Other services are also possible for owners of Sango coins. They will also be able to benefit from “ e-residency ” or “electronic residence”. 

This administrative status is different from citizenship. It allows you to benefit from advantageous tax conditions and simplified administrative procedures. The "entry ticket" is more accessible than citizenship. In fact, to have an “e-residency”, people will have to block the equivalent of $6,000 in Sango coins for 3 years.

Another possible service concerns the purchase of land. With $10,000 in Sango coins locked up for 10 years, people will be able to buy a 250-square meter piece of land. 

These lands will be located in the country's capital, Bangui, more precisely in the (future) district dedicated to cryptos. This land will also be "present" in a metaverse currently in development.