The 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, Reuters reported. Touadera announced the move on X late on Sunday,

CAR President Faustin-Archange Touadéra's X account posted about the launch of the country's $CAR meme coin, but even with a $500 million market cap, there were "red flags" raised about the token's launch.