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Central African RepublicCryptoNews

$CAR Meme-Coin Launches in Central African Republic

Photo of iGaming Afrika iGaming Afrika Send an email February 11, 2025
0 1 minute read
CAR Coin Central African Republic
Photo: Courtesy

Central African Republic through President Faustin-Archange Touadér has launched a meme-coin, dubbed “$CAR”, on the social media platform X over the weekend.

According to President Touadéra, the launch has been a “success”. However, experts have noted that meme-coins are known for their extreme volatility, and the value of $CAR has already declined by up to 90% on specialist websites.

Read Also: EGT Digital with one more significant achievement in South Africa

This move marks the latest development in the Central African Republic’s growing adoption of cryptocurrency. In 2022, the country became the second nation, after El Salvador, to make Bitcoin a legal tender.

The Central African Republic government has yet to comment on the long-term implications of this initiative or how it plans to mitigate the potential risks associated with meme-coins.

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Photo of iGaming Afrika iGaming Afrika Send an email February 11, 2025
0 1 minute read
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