The Central African Republic (CAR) will begin to tokenize access to its natural resources.
The CAR government will offer tokenized access to mineral resources to crypto projects that have registered in the country.
The initiative is called Project Sango.
In addition to oil, the CAR has other mineral deposits, including diamonds, copper and rhodium. The country’s natural resources also include gold, limestone, cobalt and manganese.
The state is landlocked and remains one of the least developed countries in the world despite its rich natural resources. President Fostin Arkanja Tuadera said the tokenization of “vast geological treasures” represents a means of creating new investment opportunities in the country.
Earlier, the CAR passed a law that recognized bitcoin as legal tender.