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Central African Republic (CAR) Launches Sango Coin Platform – Holders to Deposit Crypto Assets

Central African Republic is inviting investors to deposit cryptocurrencies into its Sango platform with Sango Coin cryptocurrency at its center.

In an email sent out to interested investors, the team behind Sango said:

“All KYC verified users are now able to fund their wallet and get ready for the Genesis Cycle by depositing one of the supported cryptocurrencies:

  • $BTC (Bitcoin)
  • $ETH (Ethereum)
  • $BNB (BNB Smart Chain)
  • $USDT (ERC-20/BEP-20)
  • $USDC (ERC-20/BEP-20)
  • $BUSD (ERC-20/BEP-20)
  • $DAI (ERC-20/BEP-20)”

However, to deposit funds you need to complete KYC verification whereby you will be required to submit a National ID document and selfie for authentication.

Sango is also preparing for people to acquire Sango Coin. Only 210,000,000 available.

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SEE ALSO: The President of Central African Republic (CAR) Remains Bullish Despite Bitcoin Downturn

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This is how the Wallet Page looks like after KYC is approved

For the moment, you can only prepare yourself for the launch by verifying your identity and depositing funds to gain early access.

Sango Coin is the National Digital Currency at the core of the New Monetary System implemented by the Central African Republic. It represents the fuel that will power the entire ecosystem.

The Sango Coin, depending on the amount one holds, will enable an investor get the following privileges:

  • Citizenship in the Central African Republic can be obtained by locking a fixed collateral of SANGO Coins in the amount of $60,000 for a period of 5 years. After the period ends, the SANGO Coins are returned to the owner
  • The e-residency in the Central African Republic can be obtained by locking a fixed collateral of SANGO Coins in the amount of $6,000 for a period of 3 years. After the period ends, the SANGO Coins are returned to the owner

Moreover, the Central African Republic government says it is the biggest landowner in the country and is looking to decentralize the ownership of land property though SANGO. The land plot can be obtained by locking a fixed collateral of SANGO Coins.

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RECOMMENDED READING: Introducing Project Sango – The First Official Bitcoin Island and Hub in Africa

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