1 August 2026
Akon Secures $6 Billion Construction Contract For His Crypto City
The popular singer and songwriter Akon is all set to build his crypto-powered city in Senegal.
Akon city has given the construction contract to KE International, a U.S-based engineering and consulting firm. The firm has funded around $4 billion to complete Akon City’s first and second phases of execution. It is said that the infrastructure of the city will get complete by 2023 and by 2024-2029, the city aims to run entirely on the AKOIN cryptocurrency.
The partners of Akon city are tourism agency SAPCO, crypto payments company Bitminutes, and blockchain company Delchain. KE International has experience in building such cities as it has already built Mwale Medical and Technology City (MMTC), an ecocity funded by Kenyan entrepreneur Julius Mwale.
The stablecoin Akoin is built on the Stellar blockchain. It will be more used in Akon City but the project also enables the use of coin as a medium exchange across 54 African countries and on various dApps.
The users can also avail Akoin via an atomic swap, which will enable users to swap phone minutes, cryptocurrency, and fiat currency. However, Akoin has not yet attracted much attention since its announcement was made in 2018. But it could change the circumstances once the Akoin gets listed on exchanges later this year.
Akon is not the only celebrity who has an interest in cryptocurrency. The winner of Miss Lowa Jessica VerSteeg also launched the now-bankrupt cannabis coin Paragon in 2017. Rapper Gramatik launched a music payment coin called GRMTK in 2017, which is also defunct.
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