After formally recognizing Bitcoin (BTC) as legal tender, the Central African Republic continues to draw attention from the cryptocurrency ecosystem. Since the new legislation, the country’s leaders have engaged different crypto stakeholders as part of utilizing the sector’s benefits.
In this line, the country’s president Faustin-Archange Touadéra met with Changpeng Zhao (CZ), CEO of Binance cryptocurrency exchange, to discuss different elements of crypto including adoption, education, investments, and regulatory frameworks.
Zhao verified the meeting in a tweet he sent out yesterday, outlining the topics they had covered.
This comes after CZ’s recent West African Tour in Senegal and Ivory Coast which is part of his global plan to further boost crypto adoption in Africa.
Although questions have been raised regarding Africa’s readiness to adopt cryptocurrencies, CZ maintains that the region is ready and has since partnered with platforms like Jokkolabs, one of Africa’s first social impact hubs. Through this partnership, Binance will launch a blockchain awareness and education program throughout communities in Francophone Africa.
CZ further emphasized the significance of blockchain to Africa’s financial industry and Binance’s commitment to working with African policymakers.
He said, “Africa is primed for crypto adoption as blockchain provides financial accessibility which isn’t currently available to lots of Africans.”
CAR is not only popular for being the first African nation to adopt Bitcoin as legal tender, but it is also known for launching the Sango Project, a legal bitcoin and cryptocurrency hub that aims to take the Bitcoin legacy to the next level and institute a cryptocurrency economic zone in the Sango Island where users will be able to propose, view, and contribute to its future developments.
The meeting between the president of CAR and the CEO of Binance is a hint of potential cooperation and partnership as CAR presses forward with its efforts to establish a bitcoin hub and tokenize its currency despite criticism from both African and global financial and monetary organizations.