The Venezuelan petro can now be purchased at six cryptocurrency exchanges. The Venezuela government shared this announcement of authorizing the six exchanges to sell the national cryptocurrency, on its official website. These authorized crypto exchanges can now market and sell the petro.
The six exchanges include Bancar (bancarexchange.io), Cave Blockchain (caveblockchain.com), Amberes Coin (amberescoin.com), Cryptia (cryptiaexchange.com), Criptolago (criptolago.com.ve) and Afx Trade (afx.trade). Some of these exchanges are already promoting the petro on their official websites. The Venezuelan president, Nicolas Maduro, said in his speech earlier this month that the petro would be available for trading at the six most powerful exchanges in the world.
Cryptocurrency exchange Cryptia’s website lists the following three cryptocurrencies for trading against BTC – DASH, ETH and XRP with zero trading volumes though. Authorized by the Venezuelan State for the sale and purchase of the petro, Ether, Bitcoin and any digital assets, it describes itself as a crypto exchange.
A new whitepaper was released by Maduro’s government for the petro, earlier this month. This whitepaper bears a striking resemblance to the whitepaper for DASH, another cryptocurrency. The petro is no longer just backed by oil, as it was first described in December 2017. The whitepaper on the petro states that the national cryptocurrency is now backed by 50 percent oil, 20 percent iron and 10 percent diamond, as stated in the Bitcoin News report.
In December 2017, Nicolas Maduro, the Venezuelan president announced the launch of the petro backed by oil reserves to shore up an economy that had collapsed. He had stated then that he intended to help Venezuela advance in issues pertaining to monetary sovereignty, overcome the financial blockade and to make financial transactions, as stated in the Reuters report.
Maduro announced in April this year that he had authorized the certification of 16 cryptocurrency exchanges for the petro. However, so far only six exchanges have been authorized and Afx Trade was not there in the initial list of 16 exchanges that was shared.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]