Venezuela to issue 100 million ‘petros’

Venezuelan President Nicolas Maduro has announced his country will soon issue 100 million units of the ‘petro’, a cryptocurrency backed by oil and gas reserves.
By Staff reporter 8 January 2018 0 28995

Venezuelan President Nicolas Maduro has announced his country will soon issue 100 million units of the ‘petro’, a cryptocurrency backed by oil and gas reserves, according to local press.

Maduro announced the plan in December 2017, saying the petro would help Venezuela “advance in issues of monetary sovereignty, to make financial transactions and overcome the financial blockade”.

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