Bitcoin adoption has been on the rise in Venezuela in recent years amid hyperinflation and the national currency crisis.
Petro News
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“We must advance in these new economic and technological systems to be accessible,” Maiquetia airport director said.
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The Central Bank of Venezuela is rolling out a CBDC in October and will launch an SMS-based exchange system to facilitate its use.
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The Venezuelan army turns to crypto mining as the country's economy collapses.
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Venezuela has announced a 90-day trial for a decentralized stock exchange supporting “alternative digital assets” and fiat currencies.
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Crypto garnered another mention in one of Maduro's bombastic speeches.
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The Venezuelan government has not yet announced partnerships capable of listing PTR abroad.
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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.
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The government of Nicolas Maduro claims that 15% of fuel payments at petrol stations were made using the state-backed Petro token.
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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.
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Venezuelan petrol stations now support the state-issued Petro cryptocurrencies, however, the rollout comes amid an aggressive adjustment to the country’s petrol regime.
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Signs indicate that Venezuela’s state-backed cryptocurrency quietly underwent a hard fork earlier this month.
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Venezuelan digital asset exchange Criptolago has introduced SMS-based cryptocurrency transfers.
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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.
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As Venezuelan hospitals face widespread shortages, President Maduro is by airdropping Petro tokens to doctors.
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