Venezuela’s Central Bank Releases Android App For Its New Crypto-Backed Bolivar

News | August 27, 2018 By:

Venezuela’s central bank has released an Android app to help residents convert the country’s old fiat currency Bolivar to the Bolivar Soberano, the country’s new Petro-pegged currency.

Called, “Calculadora Soberana,” the Android app was developed by Comunicacion Digital VE. It converts Bolivar to Bolivar Soberano by taking five zeroes away from the amount being converted.

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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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