Venezuelan Passport Fees Must Be Paid In Cryptocurrency Petro

According to recent news, Venezuelans can only pay for passport fees with state-backed cryptocurrency, the Petro. Venezuela has been in economic trouble, and two months ago, president Maduro changed tactic by issuing a new domestic currency which will scale down the volume of currency traded…

Venezuelan Banks Forced to Use Petro Cryptocurrency by President Maduro

Every bank in Venezuela must now use Petro – the oil-backed stablecoin of the controversial president Nicolás Maduro. Both public and private banks have been ordered to disclose all financial information in Bolivar, the country’s official currency, as well as in petro, which was launched…

Venezuela to Launch New National Currency in August Backed by Petro

Venezuela’s president Nicolas Maduro announced yesterday (July 25th) that the country’s new currency, the Bolivar Soberano will begin circulating on August 20th. It will be anchored to the state’s self-sponsored digital currency Petro, which was launched in February. As Venezuela’s economic troubles endure, President Maduro…

Zcash Battling Petro

 Recent news state that Venezuela’s currency is doing even worse than everybody thought. With the currency inflating to borderline catastrophic levels, Venezuelans await a miracle to save them. Currently, the Venezuelan currency is inflated so much that a U.S. based website shows the rate of…

President Trump Says No To Petro

Launched in February 2018, Petro is a cryptocurrency developed by the government of Venezuela. It is backed by Venezuela’s oil and mineral reserves and should hopefully help to solve the falling currency of Venezuela, the bolívar fuerte and also bypass US Sanctions in order to…

Swiss Firm to Launch Precious Metals-Backed Cryptocurrency

An asset management company based in Switzerland has announced it will launch a new digital asset backed by the price of copper, aluminium, nickel, cobalt, tin, gold and platinum. Tiberius Group AG is an asset management company operating out of Zug, Switzerland which has been investing…