Lagos, Nigeria (CNN) Rapper Akon is building a new futuristic 'Crypto city,' in Senegal, which will trade exclusively in his own digital cash currency called AKoin.

The US-born singer, who is of Senegalese descent, says his futuristic city will be built on a 2,000-acre land gifted to him by the President of Senegal, Macky Sall.

According to its official website , the city will be a five-minute drive from the West African state's new international airport.

While the city project is still in development, AKoin is expected to launch early July.

The singer-- real name Aliaume Thiam-- unveiled plans for the city and his currency during a panel at the Cannes Lions festival of creativity, which ended on Friday.