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Central African Republic announces plan to tokenize country’s minerals

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Quick Take The Central African Republic’s government has identified the tokenization of its natural resources as the next step forward in its digitization efforts. The landlocked African nation became the first on the continent to adopt bitcoin as legal tender in April. The Central African Republic (CAR) revealed the next step in its bitcoin adoption journey with plans to tokenize access to its natural resources, according to a statement released on Thursday. The presidential news release said the CAR government …

Central African Republic teases ‘Project Sango’ crypto hub

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Quick Take After making bitcoin a legally recognized currency in April, the Central African Republic has published online plans for a “crypto hub.” The plans, dubbed Project Sango, include a “crypto island” and a digital wallet. A month after making bitcoin a legally recognized currency, the Central African Republic has unveiled plans to create a “crypto hub” to attract global crypto enthusiasts.  The plans have been dubbed Project Sango, according to a post on the government’s official Facebook page dated …

Central African bank regulator reminds member states of crypto ban, Reuters reports

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Central Africa’s regional banking regulator reminded member states on Friday of its ban on cryptocurrencies, just weeks after the Central African Republic (CAR) made bitcoin legal tender, Reuters said. The reminder came after a chaotic week for crypto when the linked meltdown of the algorithmic stablecoin UST and Terra’s native Luna asset resulted in big losses for many of those involved. It also led to stoppages of the Terra blockchain and market trading halts as the circulating supply of Luna …

IMF says CAR’s adoption of bitcoin as legal tender raises legal and economic concerns

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The International Monetary Fund (IMF) is assisting the Central African Republic (CAR) in addressing concerns posed by its recent move to adopt Bitcoin as legal tender.  The IMF, which works to promote sustainable growth and sound monetary policy for member states, told Bloomberg today that the CAR’s adoption of Bitcoin as legal tender raises major legal, transparency and economic policy challenges.  Last week, CAR President Faustin Archange Touadera signed a law legalizing cryptocurrencies and making bitcoin a legally recognized currency …

Central African Republic adds bitcoin as legal currency: AFP

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Quick Take The Central African Republic is reportedly adopting bitcoin as legal tender, alongside the CFA franc. President Touadera says the move will put the impoverished country on the map. The President of the Central African Republic (CAR), Faustin Archange Touadera, has signed a law legalizing cryptocurrencies and making bitcoin a legally recognized currency in the country following a unanimous parliamentary vote on the matter, the AFP news agency reported on Wednesday. Obed Namsio, the President’s chief of staff, said …

Index Africa announces blockchain philanthropy initiative

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Index Africa says it is using part of the proceeds of the fees and indexing rewards earned from being a blockchain node operator on The Graph network to finance philanthropic initiatives in rural areas across the continent. According to an announcement issued on Tuesday, Index Africa’s charity work is based on the decentralized philanthropy (DePhi) concept promoted by Silicon Kruger, a South Africa-based innovation hub that aims to foster web3 innovation in the region. Index Africa donates a percentage of …

FTX partners with African payments company AZA Finance to boost web3 adoption

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Crypto exchange giant FTX has partnered with AZA Finance, the payments firm formerly known as BitPesa, to grow the web3 economy on the African continent. The partnership will explore five key areas for web3 development in Africa, including offering support for deposits and withdrawals using African fiat currencies on the global FTX platform, according to a statement on Wednesday. It will also work to improve Africa’s web3 infrastructure while creating useful learning and networking resources for participants in the region. …

a16z leads $20 million investment into African gaming startup Carry1st

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African gaming platform Carry1st has announced a $20 million Series A extension led by Andreessen Horowitz, with participation from Avenir and Google. A wide range of additional investors also took part in the round, including the founders of Axie Infinity and rapper Nas. The valuation was not disclosed.  Carry1st, a16z’s first investment into the African region, is a gaming marketplace that is also building its own payments stack. Carry1st founder Cordel Robbin-Coker says that the payments environment on the African …

Dorsey names board members of his bitcoin endowment with Jay-Z

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Twitter co-founder and Block CEO Jack Dorsey announced the board members of his bitcoin development endowment in collaboration with Jay-Z today. The two previously announced their intention to give 500 BTC to set up ₿trust, an endowment to fund bitcoin development with a starting focus on teams based in Africa and India. When he unveiled the plan for a blind trust in February, Dorsey said he needed three board members. Today, he named four: Carla Kirk-Cohen, Abubakar Nur Khalil, Obi …