$CAR token rallies as Central African Republic moves to tokenize land on Solana

The Central African Republic (CAR) is among the few tokens displaying gains amid the broad market bloodbath . The altcoin maintained a bullish momentum over the past day, fueled by President Faustin-Archange Touadera’s bullish announcement. Notably, the Central African Republic will tokenize over 1,700 hectares of land on the Solana network. It will use the country’s meme token to digitize land ownership from June 2025. The president has authorized the move with a decree, marking a significant step in the nation’s efforts to merge cryptocurrency with real-world property and governance. Touadera stated: 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. Faustin-Archange Touadéra @FA_Touadera · Follow 🇨🇫 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. carmemecoin.com 11:25 pm · 29 May 2025 99 Reply Copy link Read 33 replies Accordingly, individuals can access and purchase land online using the meme token $CAR. Notably, the property in focus lies near the Bossongo village, a region with potential mineral wealth. RWA tokenization backed by mining policies Central African Republic aims to take real-world asset tokenization to a new level. The presidential verdict was more than permitting blockchain-based digital land ownership. The decree referenced the nation’s latest tokenization laws and mining code. That means the tokenized land will be for mining activities, not commercial use or settlement. Meanwhile, this move will likely give CAR a distinctive edge among meme tokens. Most themed tokens rely on internet culture and hype without real-world utility. That limited growth in assets like Dogecoin and Shiba Inu beyond the craze. Is $CAR poised to be one of the hottest meme tokens on the Solana network after its controversial debut ? $CAR soars ahead of decree The altcoin started soaring hours before the presidential announcement. It surged over 21% in the past 24 hours, extending its weekly gains to 116%. $CAR trades at $0.05348 after brief corrections from the intraday high. Chart by CoinMarketCap The surging trading volume signals renewed investor and trader interest in the themed token. However, $CAR could see short-term retracements due to potential profit-taking. The prevailing broad market correction might also limit the meme’s recovery. Meanwhile, it trades 90% below its February 10 all-time high of $0.60 Can it recover as it secures utility in the booming tokenization sector? Industry analysts predict that the asset tokenization sector will double to surpass $16 trillion in the next five years. The Central African Republic meme token boasts massive potential. The token may likely gain additional use cases in the mining sector. The post $CAR token rallies as Central African Republic moves to tokenize land on Solana appeared first on Invezz

Source: Invezz