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Central African Republic Tokenizes its Natural Resources

ByLouis Adams

Jun 6, 2022
Reading time: < 1 minute

The government of the Central African Republic hopes to attract foreign investment through the tokenization of its natural resources.

The president of the Central African Republic (CAR) has announced the country plans to issue tokens backed by natural resources to attract foreign investment projects.

The African state reportedly has more than 470 minerals. In addition to oil and lignite, deposits of gold, iron, diamonds, copper, uranium, lithium, cobalt, manganese, rhodium and others have been discovered.

Faustin- Arcángel Touadéra, the president of the country, has said:

“Natural resources will be the driving force behind our economy.”

The African country became in April the first on the continent to accept Bitcoin as legal tender.