The Central African Republic (CAR) has launched the public sale of its national cryptocurrency SANGO.

The Genesis Cycle is live! You can buy now #SANGO Coins at the Genesis price: $0.10.

Take your place and invest as soon as possible. Only 210,000,000 SANGO Coins remain and the Genesis Cycle lasts 1 month.

Invest now: https://t.co/GEtReNQBad

— Sango (@sangoproject) 25 July 2022

The first phase of the Genesis Cycle project will last one month. During its course, 210 million coins are offered to investors at a price of $0.1. Bids for listing the asset are quoted at $0.45.

At the time of writing, customers have purchased approximately 21,700 SANGOs, or about 1% of the total.

The coin was issued on the Bitcoin sidechain. SANGO can be purchased with BTC, ETH, BNB and USDT, USDC, BUSD and DAI stablecoins on the BNB Chain and Ethereum networks.

During the Genesis Cycle phase, the minimum purchase amount is $500. A blocking period is set for investors at this stage – they cannot move the asset during the year.

Then, 12 more token sale cycles will occur, each lasting a month. The price of one coin for them was set at $0.15, but the cost of the minimum possible lot was also reduced to $100.

At the end of June, CAR officials announced the Sango initiative, designed to facilitate the country’s entry into the digital asset industry.

On July 3, President Faustin-Archange Touadéra presented a program that enables the creation of a national cryptocurrency and a crypto hub, the tokenization of natural resources, and the digitization of the economy based on blockchain technology.

According to the government, SANGO is backed by bitcoin.

Recall that in April, the Central African Republic approved the first cryptocurrency as a means of payment, along with the local franc.

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