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Venezuela Authorized 6 Exchanges To Sell Petro, National Cryptocurrency

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venezuela flag with btc logo

The national government of Venezuela has authorized six crypto exchanges to start selling the national cryptocurrency, Petro. The token was launched earlier this year, and it’s now the national currency for the South American nation.

Six Crypto Exchanges Will Now Sell Petro

According to local media, six websites that the government claims are cryptocurrency exchanges have been tasked with marketing and selling Petro.

A local news outlet by the name Noticiero Digital writes:

“The petro will be available from this Wednesday, October 17, at six exchanges, although President Maduro announced previously that there would be 16 certified companies that could market the digital currency.”

The six exchanges include Bancar (bancarexchange.io), Afx Trade (afx.trade), Cave Blockchain (caveblockchain.com), Amberes Coin (amberescoin.com), Cryptia (cryptiaexchange.com), and Criptolago (criptolago.com.ve).

Some of them have already started advertising the crypto-coin on their platforms. In a speech delivered earlier this month, Nicolas Maduro, the Venezuelan president said that Petro would be available at six of the most powerful exchanges in the world.

Taking a keen look at the individual exchanges reveals some interesting facts. The Cryptia website has listed three cryptocurrencies that trade against BTC – ETH, XRP, and Dash. However, all have zero trading volumes.

A section of the website written in Spanish reads:

“ Access the cryptocurrency [petro] in bolivares and exchange them for bitcoin, ethereum or American dollars.”

Amberes Coin describes itself as a crypto exchange that is authorized by the state government for purchase and sale of Petro, BTC, ETH and any other digital asset that is permitted by the country’s regulator.

Also, Afx Trade describes itself as a crypto exchange that supports buying, selling and safeguarding virtual assets inside and outside the national territory.

At the start of this month, Maduro’s government released a new whitepaper for Petro. The document bears a striking resemblance with that of another crypto coin, Dash.

Additionally, the Petro is no longer backed by oil as it was stated in December of last year. The document says that the coin is now supported by 50 percent oil, 20 percent Iron, 20 percent gold and 10 percent diamond.

Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology.

Basil Kimathi

Basil Kimathi

Basil is an avid fan of blockchain technology and all its innovations, and he is passionate about sharing this narrative with his audience. He has spent over five years in the crypto space, specializing in research and creating fintech content for various media outlets around the globe. His work has been published on top websites such as usethebitcoin.com, European Blockchain Convention, BTCpeers, coinjournal.net, coinlist.me, and many others. When not thinking about disruptive technologies, Basil is busy exploring the outdoors.

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