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Maduro announces the creation of Petro, the cryptocurrency of Venezuela

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Looks like we're going to war with Venezuela...



Maduro announces the creation of Petro, the cryptocurrency of Venezuela


The president of Venezuela, Nicolás Maduro, today announced the creation of Petro, a Venezuelan cryptocurrency "to advance in the matter of monetary sovereignty, to make financial transactions and to overcome the financial blockade".

"Venezuela announces the creation of its cryptocurrency, the Petro will be called (...) this will allow us to move towards new forms of international financing for the economic and social development of the country," Maduro said during his weekly television program , broadcast on the state channel VTV.

The president explained that his government will make a cryptocurrency issue "backed by reserves of Venezuelan gold, oil, gas and diamond wealth." EFE