This week Venezuelan President Nicolas Maduro announced the launch of Petro as a national currency, saying it is already " present in the world's six largest international exchange houses."
The Venezuelan President held an official launch of Petro, a national cryptocurrency created in February and backed by the country's oil reserves. In a television address, he said:
Venezuela makes history! Today we are taking a step forward with the launch of Petro as a national currency and a platform to strengthen our financial sovereignty.
TV channel Telesur TV subsequently quoted the President, saying that " Petro, unlike other digital currencies, does not need to be mined through mining, because it already has value; it is provided with Venezuelan oil and minerals." According to the publication, Maduro also meant "gold of the country, diamonds, iron and aluminum".
Petro on six exchanges
Without naming any names, Telesur TV also quoted Maduro:
Petro is already present in the world's six largest currency houses and will now be adopted at the national level.
Further in news it was reported :" all Venezuelans will have access to Petro and through it to make international purchases. Petro coins are now a legal substitute for dollars in real estate transactions, as well as for payment for goods such as air tickets, hotels and so on."
Venezuelan officials hope that Petro "neutralizes the threat of black markets and the money mafia across the country," the news channel reports. Foreign Minister Jorge Arreaza told reporters that " the mafia working with money is the cause of the fall in the value of the Venezuelan Bolivar, which further exacerbates the country's economic problems."
Link to the source of information (Russian) - https://altstake.io/news/venesuela-sdelala-petro-nacionalynoy-valyutoy