Central African Republic President Faustin-Archange Touadéra has launched a meme-coin in a bid to raise the profile of the country, which is one of the world's poorest. Meme-coins are used to build popularity for a viral internet trend or movement and fans are inspired to collect and give them value,

Central African Republic has launched a meme coin in what President Faustin-Archange Touadera said was a bid to raise the profile of one of the world's poorest countries.

The Central African Republic's $CAR memecoin has risen to a $530M market cap, but deepfake issues and insider cashouts raise doubts.

Faustin-Archange Touadéra, president of the Central African Republic, said on X that the country’s memecoin was “an experiment designed to show how something as simple as a meme can unite people, support national development and put CAR on the world stage in a unique way”.