Central African Republic to Tokenize Land Using $CAR Token on Solana

By Divyanshi Seth 3 Min Read

The Central African Republic (CAR) has announced plans to tokenize over 1,700 hectares of land using its national meme coin, $CAR. President Faustin-Archange Touadéra made the announcement on May 30, stating that land concessions will be available online from June through the Solana blockchain. The initiative aims to improve access and transparency in land management.

The Central African Republic will tokenize 1,700 hectares of land using its Solana-based meme coin $CAR.
Source: X

The presidential decree authorizes the use of $CAR to access the land digitally. The plot spans an area equivalent to nearly 2,500 football fields. It is located near the village of Bossongo, roughly 45 kilometers west of the capital, Bangui.

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The decree also references the country’s mining regulations and a 2023 law that supports the tokenization of natural resources. This suggests that the tokenized land might be intended for mining-related use. CAR’s mining sector has historically drawn foreign interest, including from groups like Russia’s Wagner, which has operated gold and diamond projects in the region.

$CAR Token Surged 100% Ahead of Announcement

The price of $CAR began rising days before the official news. After trading near $0.025 on May 26, the token surged by 100%. The token’s price reached around $0.05 on the day of the announcement. The token has gained more than 127% over the past week and now has a market capitalization of over $56 million. It has more than 18,400 wallet holders.

$CAR token experienced a significant price surge.
Source: CoinGecko

$CAR token launched in February 2025 after a series of social media statements by President Touadéra. He presented the coin as a national experiment in unifying citizens and drawing global attention to CAR. At its peak, $CAR’s market cap reached nearly $884 million, but it quickly declined due to unclear use cases and fading public interest. Despite recent gains, the token still trades nearly 93% below its all-time high of $0.70.

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Touadéra has continued to promote $CAR through his social media posts. In April, he invited the top 100 holders of the token to a personal meeting in Dubai. This is a similar publicity strategy to the one used during the rollout of Donald Trump’s $TRUMP token.

Country’s Sango Coin Project Discontinued

This new land initiative comes as the country officially ends its earlier crypto experiment, Sango Coin. Launched in 2022, Sango was promoted as a digital currency linked to national resources but eventually lost investor support. On April 29, the Sango team announced that the project would not continue in its original format but hinted at future developments under a revised framework.