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Africa Launches Sango Crypto Hub To Attract Investments 

Africa is on the path to drive crypto adoption further through its government backed Sango Crypto Hub. The Sango Hub will lead the way for the African countries to present themselves as the crypto hub and attract investment to the sector. The CAR region is also planning to regulate the way forward for a faster adoption moving forward. 

The president of the CAR region Faustin-Archange Touadéra said, “ We are looking for a common cryptocurrency to speed up market adoption and push the growth forward in Sango and Africa.”

Financial inclusion is also an issue in Africa and through crypto, it can be effectively achieved. Most Africans have access to mobile phones and through its use, they can easily use crypto and empower themselves for the future. 

However, the announcement has brought some backlash from the World Bank. They have said that such initiatives will push the CAR region away from World Bank’s aid. The World Bank has said the same with crypto friendly countries  like El Salvador. However, such things will stifle innovation in Africa. 

At the moment, the CAR region wants to introduce blockchain to real -estate. This is a noble initiative considering the fraud in the sector. NFTs will be used to list properties and tokenize the same for sustaining the ecosystem. Along with this, there’s also a plan to develop local bitcoin wallets that can help streamline smooth micro payments. 

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.