Venezuela’s Petro Cryptocurrency To Be Used As Unit Of Account For Salaries, Goods And Services

Announcements, News | August 15, 2018 By:

Venezuela’s President Nicolas Maduro has announced that the country’s oil-backed cryptocurrency, the Petro, will be used as an official unit of account.

In a televised announcement, Maduro said that oil and gas company Petróleos de Venezuela (PDVSA) will begin using the oil-backed cryptocurrency as a mandatory unit of account.

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