
In a bold and controversial move, Central African Republic President Faustin-Archange Touadéra has announced the tokenization of over 1,700 hectares of land using the Solana-based meme coin $CAR, which he has dubbed the “national meme coin” of the state. The announcement, made via his official X account, outlines plans to make this land globally accessible for purchase through the crypto token by June 2025.
Land Tokenization Decree: A New Phase for $CAR
According to Touadéra’s presidential decree, the land, located near Bosongo village, 45 kilometers west of the capital Bangui, will be made available through tokenized sales conducted on the Solana blockchain. The move falls under the CAR’s 2023 tokenization laws and mining code, sparking speculation that the land could be linked to mining concessions or natural resource development.
The decree represents one of the first government-backed land tokenization efforts in the world that is powered by a meme coin, blending experimental crypto strategies with national asset distribution and not without controversy.
Market Reaction: CAR Surges After Announcement
The meme coin $CAR surged over 20% following the announcement, with daily trading volume jumping 31.9%, according to data from CoinGecko. The token, currently trading at $0.05, has been on a hot streak lately — up 182% over the past week and 216% in the last month.
Since its February 2025 launch, $CAR has accumulated a market cap of $53 million, after previously peaking at $884 million before crashing due to backlash and controversy.
A Controversial History
$CAR was introduced by Touadéra as a “presidential meme coin” aimed at uniting the nation and bringing international attention to the Central African Republic in a unique way. However, its journey has been riddled with controversy:
- AI experts flagged Touadéra’s launch video as potentially AI-generated.
- The coin’s official X account was suspended without clear explanation.
- Its domain registration was traced back to a low-cost provider just days before launch, raising trust issues.
- The project’s website was later taken down by Namecheap for allegedly violating terms as an “abusive service.”
Despite this, the president reaffirmed the project’s legitimacy and pledged transparency moving forward.
Political Parallels: Mimicking Trump’s Meme Coin Strategy?
Last month, the CAR government invited the top 100 holders of $CAR to a special event in Dubai, echoing Donald Trump’s invite-only dinner for the top 220 holders of the TRUMP meme coin. The parallel signals a new trend where meme coins and political influence are increasingly intersecting adding another layer of spectacle to crypto’s already unpredictable narrative.
“Born as a Meme, Built for Utility”
The new official website, linked from Touadéra’s X post, describes $CAR as a coin that began as a meme but is now transitioning into real-world impact. The site lists the token address, participating exchanges, and information on its planned utility with land tokenization now topping the list.
President Touadéra’s latest decree marks a dramatic evolution in both the meme coin and tokenization narratives, positioning $CAR as a blockchain-powered tool for land ownership and possibly natural resource investment. Whether this bold experiment represents innovation or political theater remains to be seen but it’s certainly capturing the crypto world’s attention.
As the Central African Republic continues to push the boundaries of crypto experimentation, global investors and regulators alike will be watching closely to see whether $CAR can live up to its new promise or repeat the volatility of its past.