Individuals
Businesses
Company
Intelligence
News
African Capital Markets
EnglishEnglish
share on twittershare on linkedinshare on facebookshare to whatsapp
share on mail
share on instagram

Central African Republic Launches Memecoin to Attract Investment

Daba Finance/Central African Republic Launches Memecoin to Attract Investment
BREAKING NEWSFebruary 11, 2025 at 4:23 PM UTC

TLDR

  • The Central African Republic (CAR) has launched a memecoin, CAR Meme, in a bid to attract investment
  • The initiative follows previous attempts to integrate cryptocurrency into the nation’s economy
  • The CAR Meme, created on the Solana blockchain, is positioned as the country’s official memecoin

The Central African Republic (CAR) has launched a memecoin, CAR Meme, in a bid to attract investment and support economic development. The initiative, backed by President Faustin-Archange Touadéra, follows previous attempts to integrate cryptocurrency into the nation’s economy, including the adoption of Bitcoin as legal tender in 2022 and the launch of Sango Coin, which offered citizenship and land investment opportunities.

The CAR Meme, created on the Solana blockchain, is positioned as the country’s official memecoin. President Touadéra stated that the token will support initiatives in education, infrastructure, and financial inclusion.

Despite initial enthusiasm, CAR Meme lost nearly 90% of its value after launch, trading at $0.03 on Tuesday. The memecoin's launch coincides with a global trend, with figures like former U.S. President Donald Trump also introducing memecoins.

Daba is Africa's leading investment platform for private and public markets. Download here

Key Takeaways

CAR’s economy, valued at $3 billion, remains underdeveloped despite rich gold and diamond reserves. The memecoin is an unconventional approach to attracting investment. The country’s prior Sango Coin project failed to gain traction, raising concerns about the feasibility of government-backed crypto ventures. Memecoins are highly speculative assets, with past examples like Trump’s token experiencing extreme volatility. The long-term impact of CAR Meme remains uncertain as investors weigh risks against potential gains.

Central African Republic
Memecoin
Solana
Cryptocurrency
Digital Currency
Virtual Asset

Think someone else should see this?

share on twittershare on linkedinshare on facebookshare to whatsapp
share on mail
share on instagram
Stay informed with our newsletters read by 25,000+ professionals worldwide
Newsletter companiesNewsletter companiesNewsletter companiesNewsletter companiesNewsletter companiesNewsletter companies

Next Frontier

Stay up to date on major news and events in African markets. Delivered weekly.

Pulse54

UDeep-dives into what’s old and new in Africa’s investment landscape. Delivered twice monthly.

Events

Sign up to stay informed about our regular webinars, product launches, and exhibitions.

+25k investors have already subscribed

To invest in this opportunity and other opportunities across Africa

Download the daba finance app on your mobile through
appstore iconappstore icon
Phone Image

Take action.

Download app

Start investing in Africa’s best opportunities, including stocks, bonds, startups, venture funds, and more.

Partner with us

Unlock exciting business opportunities and growth potential.

Join Daba

Become a part of our vibrant community and enjoy exclusive benefits.

Contact us

Reach out to us for inquiries, support, or collaboration.
For Investor
StrategiesPortfolio ManagementAfrican Capital MarketsNews
Daba Pro Intelligence
For Capital Seekers
For StartupsFor Fund ManagersFor Private CompaniesFor Lenders
For Partners
Commercial BanksBroker DealersAsset ManagersInvestment BanksInvestment Advisors and ConsultantsLenders and Microfinance
Company
About UsMarket UpdatesEventsBlog and PodcastNewsletterCase StudiesAffiliate ProgramInvesting GlossaryOfficial ContactsTrust, Compliance and SecurityFrequently Asked Questions

Terms & ConditionsPrivacy Policy
EnglishEnglish

Owned by Daba Markets Inc. By using this site, you accept our Terms and Conditions and Privacy Policy. © 2024 All rights reserved. 2025 All rights reserved