RATE Group | Venezuela Finally Launches Controversial State-issued Petro Cryptocurrency
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Venezuela Finally Launches Controversial State-issued Petro Cryptocurrency

07 Oct Venezuela Finally Launches Controversial State-issued Petro Cryptocurrency

Posted at 15:47h in Cryptocurrency News by

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Venezuela’s President Nicolas Maduro recently announced the official launch of the Petro cryptocurrency. In a follow-up development, the government says payment for travel passports will now be made in Petro. 

Petro Public Sale Starts November 2018

According to RT News, the Petro public sale commences on November 5, 2018, more than eight months after its presale in February 2018. For President Maduro, the state-issued cryptocurrency is a vital part of his administration’s economic recovery plan.

In a recent tweet, the Venezuelan president described the Petro as strengthening the country’s economic revival. He also said the controversial cryptocurrency could cause a paradigm shift in global tokenomics. According to President Maduro, the Petro will usher in novel forms of monetary exchange, trade, and finance.

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