Binance CEO Meets the President of Central African Republic (CAR) – Talks Regulation, Investment, Education, and Adoption

During his West African tour, CZ expressed Binance’s commitment to collaborating with policymakers in Africa as well as highlighting blockchain’s importance to the financial economy.

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ChangPeng Zhao (CZ), the CEO of Binance, one of the leading crypto exchanges in Africa and globally, has met the President of the Central African Republic (CAR), Faustin-Archange Touadéra.

The meeting comes a few months after the Central African Republic parliament approved the usage of cryptocurrencies, paving the way for bitcoin to become legal tender and as a form of payment in the country.

CZ has previously met the presidents of Senegal and Ivory Coast during a recent West African Tour.

CZ met the CAR president in Dubai where they discussed:

  • Education
  • Investments
  • Regulatory frameworks, and
  • Crypto adoption

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SEE ALSOBinance CEO Meets Presidents of Senegal and Ivory Coast in West African Tour

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During his West African tour, CZ announced Binance’s partnership with JokkoLabs, one of Africa’s first social impact hubs. Through this partnership, Binance will launch a blockchain awareness and education programme throughout communities in Francophone Africa. 

CZ also expressed Binance’s commitment to collaborating with policymakers in Africa as well as highlighting blockchain’s importance to the financial economy:

“Africa is primed for crypto adoption as blockchain provides financial accessibility not currently available to lots of Africans.”

– CEO, Binance

In May 2022, CAR introduced the Sango Project, a legal bitcoin and cryptocurrency hub that aims to:

  • Take ‘the Bitcoin legacy to the next level.’
  • Institute a ‘cryptocurrency economic zone’ in the Sango Island where users will be able to propose, view, and contribute to its future developments.
  • ‘Facilitate land acquisition in bitcoin for investors worldwide.”
  • ‘Create a Digital National Bank.’
  • ‘Fully support’ access and ‘allocation of the country’s natural resources such as gold, diamonds, uranium, lithium and oil to crypto projects.’
  • Build the Sango crypto island that will be declared a crypto economic zone and the first island in the metaverse backed by reality

CAR is the second country in the world, after El Salvador, to make bitcoin legal tender.

The Binance CEO and CAR President meet is a sign of possible partnership and collaboration as CAR moves ahead with its bitcoin hub and tokenization efforts, despite opposition from both African and international financial and monetary bodies.

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RECOMMENDED READING: Bank of Central African States Warns CAR Adopting Bitcoin Could Compete with Central African CFA Franc

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