President Maduro Orders Banco de Venezuela to accept Petro
Published On : 2019-07-05 08:50:40
The country's Economy and Finances Ministry tweeted that Nicolas Maduro, the president of Venezuela, give an order to the Bank of Venezuela to accept the nation's cryptocurrency, the Petro (PTR), at all of its branches.
According to the tweet, made on July 4, Maduro gave ''the express order to open Petro desks in all the branches of the Bank of Venezuela.'' The announcement came during an event celebrating the tenth anniversary of the nationalization of the bank in question.
Venezuela held an ICO of oil-backed digital currency Petro, after suffering from sanctions imposed by other countries. The goal of this sale was to improve economic conditions in the country. The ICO was successful and it attracted around $735 million from investors.
Nicolas Maduro tweeted on June 19, 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 country’s youth. José Angel Alvarez, president of the country’s National Cryptocurrency Association.
Did you know that the President Trump banned US citizens from buying Petro?