CAR to tokenize 1,700 hectares of land using meme coin

Central African Republic’s President Faustin-Archange Touadéra announced a decree to tokenize over 1,700 hectares of land using the country’s controversial meme coin, $CAR.

Key details

• The land, located in Bosongo village —about 45 km west of the capital, Bangui— will be made available on the Solana blockchain by June 2025.
• According to the announcement, buyers worldwide will be able to purchase portions of the land by trading $CAR, a Solana-based token Touadéra refers to as the “national meme coin.”
• The decree makes reference to CAR’s mining laws and tokenization legislation, suggesting the land might be earmarked for natural resource exploration or development.
• After the announcement, the $CAR token surged more than 20% in value, with daily trading volume increasing by nearly 32%, according to CoinGecko.

Quick context

• CAR launched its meme coin in February 2025, branding it as a national crypto experiment to “unite people” and drive development.
• The project had a controversial start: the token hit an all-time high of $0.775 on launch day but quickly crashed.
• Allegations of deepfake promotional content, sudden suspensions of official social media accounts, and concerns about the coin’s domain registration created widespread skepticism.
• AI detection tools flagged the president’s announcement video as artificially generated, and the token’s website was briefly suspended by domain provider Namecheap for being linked to “abusive services.”
• Despite the controversy, the token has since recovered some ground, now trading at around $0.05 with a market cap of $53 million.

Zoom out

• CAR is the second country in the world and the first and only African country to declare a crypto, bitcoin, as legal tender.