Venezuela’s President tells the leading bank to start accepting the country’s cryptocurrency, Petro (PTR)

Nicolas Maduro, the president of Venezuela has told the country’s top bank to accept cryptocurrency.
The latest announcement of the order came via the finance ministry's official twitter account.

Ken Chigbo Independent Analyst

Venezuela’s President Nicolas Maduro has ordered the country’s leading bank, Banco de Venezuela, to start accepting the nation’s cryptocurrency, the Petro (PTR) at all of its branches, according to the country’s Finance Ministry official Twitter account.

Maduro has given “the express order to open Petro desks in all the branches of the Bank of Venezuela.” as covered by the finance ministry within the tweet.

As a reminder, back in 2018, the Venezuelan government created Petro as a method to try and bypass the economic sanctions that were implemented by Donald Trump’s administration against the country’s financial system.

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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