CAR President Approves Tokenizing Land With $CAR Coin on Solana Blockchain

• CAR’s president has authorized the tokenization of land using $CAR, starting June 2025 on Solana.
• The $CAR token surged 11% after the announcement, rising over 127% in a week despite a shaky crypto market.
• This move could change how land ownership works, but it also raises questions about mining and local impacts.

The Central African Republic is making waves in the crypto world. President Faustin-Archange Touadéra just signed a decree to turn over 1,700 hectares of land into digital tokens. Starting this June, people will be able to buy and sell land rights using the country’s very own token, $CAR, all running on the Solana blockchain.

I have signed a presidential decree to tokenize over 1,700 hectares of land in the Central African Republic.

Starting June, land concessions will be accessible online using $CAR, directly on @solana.

A new era of access and transparency begins.https://t.co/d04OcRJIB7 pic.twitter.com/fzSEANEt6w

— Faustin-Archange Touadéra (@FA_Touadera) May 29, 2025

On his official X account, Touadéra announced, “ In June, a new chapter in digital sovereignty will begin. This is not about speculation. This is about access.” It’s a fresh and bold attempt to mix blockchain with real-life government affairs.

This patch of land, about the size of 2,500 typical football fields, lies west of the capital, Bangui. The decree mentions the country’s mining laws and regulations for tokenizing natural resources, hinting that this land might be open for gold or diamond mining.

$CAR Token Takes Off While Others Struggle

The $CAR token jumped sharply on the day of the announcement. It went up 11%, reaching $0.053, and has gained more than 127% over the past week. There are now more than 18,400 people holding $CAR, and the total value of all tokens is about $56 million.

Interestingly, the token’s rise began before the official news dropped. $CAR was around 2.5 cents just days before, then steadily climbed as people caught wind of the plan. In the last two months, the token has surged by over 300%, showing there’s real excitement behind it.

That’s quite the opposite of what’s been happening in the wider crypto market. Bitcoin and others have been losing ground, and the total crypto market cap slipped by 3% to roughly $3.5 trillion. But $CAR is charging ahead, bucking the trend.

A New Chapter for Land Ownership — But Some Concerns Remain

This move fits with the Central African Republic’s push to bring blockchain tech into everyday life. Using Solana’s network, they hope to make land ownership more transparent and easier to trade.

But not everyone is completely sold. The land in question is known for mining, and Russia’s Wagner Group has been active there in recent years. Some worry about what this tokenization means for the local mining industry and whether it will truly benefit the people.

Still, President Touadéra has been a strong supporter of $CAR from the start. After launching the coin in February, he kept promoting it, even inviting the top holders to meet him in Dubai. While $CAR’s price fell sharply after its initial hype, this land tokenization could finally give the coin a real purpose.

What’s Next for Crypto in Africa?

This experiment could be a game-changer for other countries looking to use blockchain for managing assets and government services. It’s unusual to see a token used for national land deals, but if it works, it might open the door for aggressive crypto adoption across the continent.

Investors are watching closely. Some see this as a sign that crypto could finally be hitting the mainstream with clearer rules. Others are cautious, worried about potential risks and the influence of foreign groups involved in mining. As June approaches, everyone will be watching to see if this new idea takes off or falls flat.

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