Petro News

Bitcoin adoption has been on the rise in Venezuela in recent years amid hyperinflation and the national currency crisis.

“We must advance in these new economic and technological systems to be accessible,” Maiquetia airport director said.

The Central Bank of Venezuela is rolling out a CBDC in October and will launch an SMS-based exchange system to facilitate its use.

The Venezuelan army turns to crypto mining as the country's economy collapses.

Venezuela has announced a 90-day trial for a decentralized stock exchange supporting “alternative digital assets” and fiat currencies.

Crypto garnered another mention in one of Maduro's bombastic speeches.

The Venezuelan government has not yet announced partnerships capable of listing PTR abroad.

Venezuelan mayors agreed to join the government’s plan to expand the adoption of Petro despite some municipalities not having the technology to handle it.

The government of Nicolas Maduro claims that 15% of fuel payments at petrol stations were made using the state-backed Petro token.

The U.S. government issued a $5 million bounty to the supervisor of the Petro, but court documents suggest that crypto has little to do with alleged sanction evasion schemes.

Venezuelan petrol stations now support the state-issued Petro cryptocurrencies, however, the rollout comes amid an aggressive adjustment to the country’s petrol regime.

Signs indicate that Venezuela’s state-backed cryptocurrency quietly underwent a hard fork earlier this month.

Venezuelan digital asset exchange Criptolago has introduced SMS-based cryptocurrency transfers.

Despite the high level of privacy, Venezuela’s national crypto could not help avoid international sanctions nor even cover the illicit activities of the country’s leaders.

As Venezuelan hospitals face widespread shortages, President Maduro is by airdropping Petro tokens to doctors.