Venezuelan Cryptocurrency Petro To Be Adopted For Int'l Trade On October 1 - President
Mohammad Ali (@ChaudhryMAli88) Published September 21, 2018 | 10:36 AM
MEXICO CITY (UrduPoint News / Sputnik - 21st September, 2018) Venezuelan President Nicolas Maduro announced that the government-backed cryptocurrency, called petro, will be used in international transactions starting from October 1.
"On October 1, Petro will enter the streets to become a means for commodity exchange, purchase and convertible Currency for the whole world," Maduro said on Thursday in the air of state television.
Venezuela has become the first country to launch the oil-backed cryptocurrency. The sales of Petro started in March after a month of presales.
Maduro said in August the foreign exchange rate of the petro cryptocurrency would be fixed at $60, or 3,600 redenominated bolivars
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