Bitcoin’s First African Adopter Starts Memecoin to Woo Investors

Feb. 11, 2025, 3:10 PM UTC

Central African Republic has launched a memecoin in a bid to attract investment to the mineral-rich but impoverished nation.

CAR Meme is the latest attempt by President Faustin-Archange Touadéra, a former mathematics professor, to finance much needed development and strengthen the $3 billion economy. The country, long neglected by the international community, has been further isolated since it contracted mercenaries from the Kremlin-linked Wagner Group since 2018.

The landlocked country of 5 million in 2022 became the world’s second country after El Salvador to adopt Bitcoin as legal tender.

That was followed by the launch of Sango Coin, a cryptocurrency ...

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