Venezuela to Open Bank Transactions in Petro and Cryptocurrencies

On Wednesday, the president of the Bolivarian Republic of Venezuela, Nicolás Maduro, ordered the creation of counters in all branches of the “Banco de Venezuela” for transactions in Petros and cryptocurrencies.

In a statements broadast by Venezolana de Televisión from the headquarters of the Banco de Venezuela, the Head of State indicated that in this process the Superintendence of Cryptocurrencies should be integrated, in order that public banks – and then private – “offer their banking service in Petro and cryptocurrencies”.

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“That is the new world and we must open the way (…) We can do that from Venezuela. And the world is watching us and other countries that have taken first steps of currencies supported by gold, in oil,” said the President during the celebration of the tenth anniversary of the nationalization of Banco de Venezuela.

In this regard, he pointed out that this financial system will be able to face the economic, financial and commercial blockade imposed by the government of the United States against Venezuela, which has caused millions in losses to the nation.

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“Cryptocurrencies should be democratized in the world as a response to so much barbarism of sanctions, blockades and financial persecution,” said the Venezuelan leader.

Last October, the National Government activated the Internet site www.petro.gob.ve so that users can trade with the digital currency El Petro, through this platform. In February of last year, President Nicolás Maduro launched the petro cryptocurrency, backed by a barrel of oil from the Venezuelan crude oil basket.

Source URL: Alba Ciudad

Translated by JRE/EF