American singer-songwriter and rapper of Senegalese origin, Akon intends to July 2020 to produce its own cryptocurrency Akoin. He stated this in an interview with Bloomberg.

According to the actor, the first time he thought about it during the trip from the Senegalese capital Dakar to Paris. Having arrived in France, he was unable to change the Senegalese currency to the Euro. The employee at the currency exchange told him that he could not make the CFA franc. Akoin should become the official currency of its city Akon city, which he is building in Senegal.

plans for the construction of the city and launch its own cryptocurrency singer announced in 2018. The city will be erected on a plot of land 1.6 thousand hectares near the international airport, presented by the President of Senegal macky Sully. Akon futuristic city shall become a special tax zone, which is expected to attract investments to the country.

In June 2020 Akon said that city construction will occur in two phases: the first ending in 2023, in Akon city will build a school, a factory for recycling, hotels, roads and so on. In the second phase, which will end in 2029, the city will go for money.