The Petro, the Venezuelan cryptocurrency devised by the president, Nicolás Maduro, to pay international suppliers in the face of the country's shortage of currency, turned three years since its launch on Saturday, February 20.
In 2018, Maduro defined the petro as "a sovereign crypto asset backed…
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Venezuelan Cryptocurrency
Venezuelan workers savings in petro could be convertible into currencies
Nicolás Maduro announced that Petro will be converted into convertible currencies for the benefit of the 3 million people who have protected part of their assets in the Venezuelan cryptocurrency so they be able to acquire products in any…
Maduro says automotive market will be based in petro cryptocurrency
This weekend Nicolás Maduro indicated that it is expected to have an automotive market in Venezuela managed by petro cryptocurrency during 2019 and that the government will also have investments from Russia, and other countries.
On the…
Mosnarbank will support Petro despite USA sanctions
According to a report published in the media, the Russian bank Evrofinance Mosnarbank "strengthened" its position to accept the investments with which venezuelans Petros will later be acquired.
This decision confirms that the commercial…
Venezuela and Palestine approved the binational “Petro Fund”
After a diplomatic meeting between the presidents of Palestine and Venezuela, the nations agreed to carry out a wide range of measures to improve international relations and political and economic affairs, thus producing a "strategic…