make our site easier for you to use.
We do also share that information with third parties for
advertising & analytics.
Venezuela’s President Nicolas Maduro has ordered that every branch of the Banco de Venezuela should allow citizens to buy and trade El Petro, the state-issued cryptocurrency he’s so intent on pursuing.
“I hereby order that every branch of Banco de Venezuela opens exchange desks so that everyone can transact with El Petro and start using it,” said Maduro on Wednesday.
“This is the new world where we can lead by example.
We can do this from Venezuela.
The world is looking at us,” hed added.
Venezuela has authorized six cryptocurrency exchanges to start selling its national cryptocurrency, the petro, according to the government’s website. The petro, which recently became a Venezuelan national currency, can now be purchased at the six exchanges, local media report.
The Venezuelan government has authorized six websites it claims are cryptocurrency exchanges to market and sell the petro, the country’s new national currency.
The Venezuelan government is entering the cryptocurrency space, and the country claims it has already made a splash with its digital currency, called the petro. The government claimed that the pre-sale of the petro drew in $735 million in investments on the first day.
The government also issued a buyer’s manual and indicated that investors are able to purchase petros using both “hard currencies and cryptocurrencies, but not bolivars, according to Bitcoin.com.
The petro pre-sale was scheduled to begin at 4:00 a.m. UTC on February 20 and was set to take place as a private sale, according to the cryptocurrency whitepaper.
ATAPIRIRE, Venezuela (Reuters) – To hear Venezuela’s leftist President Nicolas Maduro tell it, this remote hamlet of 1,300 souls is perched on the cutting edge of an innovation in cryptocurrency.
Located in an isolated savanna in the center of the country, Atapirire is the only town in an area the government says is brimming with 5 billion barrels of petroleum. Venezuela has pledged those reserves as backing for a digital currency dubbed the “petro,” which Maduro launched in February. This month he vowed it would be the cornerstone of a recovery plan for the crisis-stricken nation.
But Atapirire residents say they have seen no efforts by the government to tap those reserves. And they have little confidence that their struggling village has a front-row seat to a revolution in finance.
“There is no sign of that petro here,” said homemaker Igdalia Diaz.
In 2017, president of Venezuela, Nicolas Maduro, announced the development and issuing of an official Venezuelan cryptocoin — El Petro cryptocurrency — for Venezuelan citizens. According to the president, the Venezuelan digital currency Petro’s meaning for the country is a way to become more financially independent and to resolve all problems in the economy of the republic. El Petro cryptocurrency’s value is supposed to be dependent on Venezuelan reserves of oil, gold and diamonds. However, the technical aspects of issuing such virtual currency remain unknown. Most likely, the concept of the coin is still just in written form without any real implementation.
Venezuela’s President Maduro has said the nation will sidestep the U.S.