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Central African Republic President: Crypto is key to financial inclusion
Cryptocurrencies are the solution to tackling financial exclusion in the Central African Republic, its President Faustin-Archange Touadera said on Sunday, citing the cost of opening bank accounts. “The alternative to cash is cryptocurrency,” Touadera said at a launch event for crypto initiative Sango hosted by the country, after it became the first African state to make bitcoin legal tender in April. The Sango project, including a “Sango Coin”, was backed by the Central African Republic’s National Assembly and spearheaded by Touadera, who said the token would provide access to the country’s “mountain” of natural resources, including gold and diamonds.