Cameroon Separatist State Ambazonia Sells Ambacoin To Replace CFA Franc

Published by
Cameroon Separatist State Ambazonia Sells Ambacoin To Replace CFA Franc

Ambazonia is a self-declared state consisting of the Anglophone portions of Cameroon. These Cameroon separatists have previously launched their own cryptocurrency called the AmbaCoin. And a very recent report from a local African media indicates that they are selling AmbaCoin as the replacement to the CFA Franc (a name of two currencies guaranteed by the French treasury which is being used in parts across West and Central African countries).

Advertisement

AmbaCoin to Dissociate Ambazonian from CFA

Here goes the official statement by Frank Enoanyi Abange who has appeared as a director of the Ambacoin project and resides in the US state of Ohio. He says Ambazonia to be independent; we can’t pursue a French colonial currency. Frank explains that;

“The idea of AmbaCoin was to get away from the CFA – we don’t see the CFA franc as a legitimate currency for Ambazonia,”

Earlier, Coingape has reported the official token sale of Ambacoin crypto was slated for December 24, 2018. The token further set to sale in return of 25 US cents. However, the token appeared to have gone through pre-sale and then 30,000 tokens were issued on the first day of 2019.

Funding Humanitarian Aid Through AmbaCoin

The AmbaCoin aims to provide humanitarian relief to those affected by the conflict in the Anglophone regions by raising up to 250 million US dollars. The idea behind developing own currency is to dissociate Ambazonian from the Central African Franc (CFA) and to kick-start the ‘Amazonian’ economy.

AmbaCoin is a decentralised public blockchain and cryptocurrency for the New Nation Ambazonia. The AMBA ICO is a Government Bond Smart Contract backed by the Rich Natural Resources in the territory, and a Buy-Back policy by the Post Independent Ambazonian Treasury that is supported by all political parties of Ambazonia.

Interested enthusiasts in AmbaCoin can simply visit the dashboard on its official website and are free to use crypto or fiat to buy AmbaCoin. Once the user completes a transaction, it will be turned into an Ethereum digital wallet, as the currency is built on Ethereum ERC-20 token. Moreover, the transactions will be completed via ‘Ethereum’s smart contract’.

 

Besides the Federal Republic of Ambazonia, there are various countries keenly focusing on their own digital currency. Likewise, Venezuela was often on bulletins with the hype of its own ‘Petro’ token, Iran is stepping ahead to create national cryptocurrency backed by Rial and other nations including Tunisia, Senegal, and many others are in a row.

Advertisement

Share
Tabassum

Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

FLOKI Makes History With First ETP in Europe as Price Surges 30%

FLOKI has announced the launch of the first BNB chain exchange-traded product (ETP) in Europe.…

October 4, 2025
  • 24/7 Cryptocurrency News

BNB Rally to $1,300 Will Continue As Binance Hits Crucial Q3 Milestone, Says Expert

Binance Coin (BNB), the native cryptocurrency of BNB Chain, has surged another 8% today, moving…

October 4, 2025
  • 24/7 Cryptocurrency News

Trump’s Real Estate Moves On-Chain as Hut8 Adds WLFI Tokens to Boost Treasury

Trump’s real estate portfolio is set to go on-chain amid World Liberty Financial’s announcement of…

October 4, 2025
  • 24/7 Cryptocurrency News

ASTER Token Defies Crypto Market Consolidation With 14% Upside, Expert See Next Stop at $3

Despite the broader crypto market consolidation, ASTER token is outperforming with 14% gains in the…

October 4, 2025
  • 24/7 Cryptocurrency News

MetaMask Gears Up for Major MASK Token Airdrop With Reward Points System Launch

MetaMask, Consensys’ Web3 wallet, is set to introduce a reward points system for on-chain activities.…

October 4, 2025
  • 24/7 Cryptocurrency News

Coinbase Joins Ripple and Circle In Applying For National Banking License

Crypto exchange Coinbase has applied for a national trust charter, joining the likes of Ripple,…

October 4, 2025