• Bank customers can now transact in both fiat and cryptocurrencies.
  • As of now, users can only use the official web wallet to transfer Petros and trade tokens on authorized exchanges.

Bank of Venezuela is about to become the first financial institution in the country to offer its customers the option of conducting operations in both fiat and crypto. Recently, the Bank of Venezuela clients identified a new module in the management interface of their accounts to register a crypto wallet that still seems to be in its initial phases. 

Although there hasn’t been an official announcement made by the bank, the option is presently live on customer accounts. At present, users can only transfer Petros using the official web wallet and trade those tokens on authorized exchanges such as Amberes and Bancar.

At the moment, though the bank clients seem only to have the option to register a Petro wallet, accounts also have a drop-down menu inviting the users to “choose the type of crypto" they wish to register. This indicates that the bank may support other cryptocurrencies in the future. This latest move by the bank is a blatant attempt to promote the use of Petro in the country. 

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