CAR’s $CAR Coin Jumps as President Launches Bold Land Tokenization Plan on Solana
The Central African Republic is diving deeper into crypto innovation. Just hours before President Faustin-Archange Touadéra unveiled a sweeping land tokenization initiative, the country’s meme coin, $CAR, began a surprise rally—suggesting insiders may have anticipated the news.
President Touadéra announced Thursday that over 1,700 hectares of land would soon be available for digital access and acquisition via the Solana blockchain using $CAR tokens. "A new era of access and transparency begins," he declared on X, alongside a formal decree greenlighting the initiative. Starting in June, citizens and investors alike will be able to explore and acquire land online using the meme token.
The tokenized land—an area nearly the size of 2,500 football fields—sits west of Bossongo, about 45 km from the capital city Bangui. Legal references within the decree, including CAR's mining code and 2023 digital asset laws, hint that the territory may hold untapped mineral wealth. The region has been historically tied to extractive industries, with groups like Russia’s Wagner Group previously involved in gold and diamond mining.
Notably, $CAR surged long before the official announcement. After stagnating near $0.025 late last week, the token doubled in value to $0.05—rising 21% in just one day and over 127% in the past week, according to CoinGecko. Its market cap now sits around $56.6 million, with more than 18,000 holders.
Originally launched in February as a national meme coin, $CAR was introduced via a wave of enthusiastic posts from President Touadéra, who promoted it as a symbol of digital unity and innovation. The token once touched a market cap of nearly $884 million a day after launch but crashed due to lack of direction and investor caution. It currently remains down more than 90% from its peak.
Still, the president continues to champion the project. In April, he offered the top 100 $CAR holders an invitation to meet him in Dubai—a gesture reminiscent of political-style crypto promotions, like former U.S. President Donald Trump’s $TRUMP token playbook.
The land initiative also signals a shift from the CAR’s earlier crypto experiment, the Sango Coin. That state-backed project, introduced in 2022, drew scrutiny and investor backlash. The Sango team recently announced the end of the coin’s original format but promised a revamped approach in the near future.
As CAR looks to reposition itself as a blockchain-forward nation, the $CAR token is getting a second wind—this time tied to real assets, legal infrastructure, and one of the country's most powerful natural resources: land.