Venezuelan Petro will finance young banking program

Twenty million of the cryptocurrency will be allocated to boost a bank for youth projects

During one of his most recent speeches, Venezuelan President Nicolás Maduro announced that at least 20 million copies of his “Petro” crypto currency will be used to finance a bank for youth projects in the country.

The president also pointed out the need for universities to maintain their own farms to “support the national economy.”

The Petro, the national cryptocurrency of Venezuela, began with a presale in February that allegedly raised funds worth 735 million dollars from unknown origins. It’s backed by Venezuela’s oil and mineral reserves.

Petro’s currencies will be available for purchase in Russian rubles, Bitcoin, NEM and Ether, and will be legal for trade and purchases within Venezuela.

N. Moncada

Source: CriptoTendencia

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