Cryptocurrency adoption continues to grow in Venezuela

The system for assigning subsidies to citizens by the government, called Patria, announced the incorporation of Bitcoin and Litecoin wallets to the platform in the coming days

Through a recently issued statement, the Venezuelan subsidy allocation system, Patria, announced the gradual incorporation of the Bitcoin and Litecoin wallets to the platform. They will interact with the Venezuelan cryptocurrency, the petro.

It was learned that users will be able to carry out operations “with the Petro-Bitcoin and Petro-Litecoin pairs, but with withdrawals to the PetroApp“, the digital wallet arranged by local authorities for the use of digital currencies for payment in shops of the country.

With this provision, it is understood that withdrawals to third-party wallets will not be authorized and that “the funds are kept within the official crypto-assets scheme.

Another news directly related to the subject states that the Patria System reported through its blog the adjustments that were made to the “Currency and Crypto-Assets Exchange System” to materialize the incorporation of the petro pairs to Bitcoin or Litecoin. “In this sense, people who have created Bitcoin or Litecoin Wallets will be able to place their quotes waiting for the rounds to begin to run periodically,” the source reported.

The Patria platform will publish the specifications regarding the transactions, supply and demand of petro, bitcoin and litecoin, as well as the commissions that will be set for the minimum exchange amounts.


Source: bancaynegocios

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