President Maduro Orders The Bank of Venezuela to Accept Petro Crypto
Venezuelas President Nicolas Maduro ordered the countrys leading bank, Banco de Venezuela, to accept the nations cryptocurrency, the Petro (PTR) at all of its branches, the countrys Finance Ministry tweeted on July 4.
According to the tweet, Maduro gave the express order to open Petro desks in all the branches of the Bank of Venezuela. The announcement apparently came during an event celebrating the tenth anniversary of the nationalization of the bank in question.
On June 19, Maduro announced that 924 million bolivars (over $92.5 million) were allocated to the Digital Bank of Youth and Students to open one million Petro wallet accounts for the countrys youth. José Angel Alvarez, president of the countrys National Cryptocurrency Association, commented to cryptocurrency news outlet CCN:
It is a bold and correct decision to move forward towards a hybrid economy where the fiduciary currency of a country competes face to face with cryptocurrency.
https://cointelegraph.com/news/president-maduro-orders-the-bank-of-venezuela-to-accept-petro-crypto
According to the tweet, Maduro gave the express order to open Petro desks in all the branches of the Bank of Venezuela. The announcement apparently came during an event celebrating the tenth anniversary of the nationalization of the bank in question.
On June 19, Maduro announced that 924 million bolivars (over $92.5 million) were allocated to the Digital Bank of Youth and Students to open one million Petro wallet accounts for the countrys youth. José Angel Alvarez, president of the countrys National Cryptocurrency Association, commented to cryptocurrency news outlet CCN:
It is a bold and correct decision to move forward towards a hybrid economy where the fiduciary currency of a country competes face to face with cryptocurrency.
https://cointelegraph.com/news/president-maduro-orders-the-bank-of-venezuela-to-accept-petro-crypto