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- Announced in December 2017, it is supposed to be backed by the country's oil and mineral reserves, and is intended to supplement Venezuela's plummeting hard bolívar currency, as a means of circumventing U.S. sanctions and accessing international financing.
en.wikipedia.org › wiki › Petro_(token)
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Oct 4, 2018 · By Tsvetana Paraskova - Oct 04, 2018, 12:00 PM CDT. Venezuela has officially launched what its President Nicolas Maduro claims is a first state-backed oil-backed...
Jan 15, 2024 · 17. HR. 54. MIN. 49. SEC. Register Today. Policy. Venezuela Ends Controversial Petro Cryptocurrency: Reports. President Nicolas Maduro launched the Petro (PTR) in Feb. 2018 to support the...
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- Regulatory Reporter-India
Jan 15, 2024 · SlamAI. Mon, Jan 15, 2024, 12:23 PM 1 min read. Venezuela has officially terminated its Petro cryptocurrency. Launched in 2018, the oil-backed digital currency was once touted by...
Feb 20, 2018 · February 20, 2018, 4:30am. Snap. Getty Images. The Venezuelan state launched a cryptocurrency Tuesday designed to circumvent U.S. and European sanctions. Called the petro, the digital currency is...
Dec 4, 2017 · CARACAS (Reuters) - Venezuelan President Nicolas Maduro looked to the world of digital currency to circumvent U.S.-led financial sanctions, announcing on Sunday the launch of the "petro"...
Mar 9, 2018 · Yet, Venezuelan President Nicolas Maduro claimed the country raised $735 million in its first-day presale of the petro and seeks to raise around $6 billion dollars in total from foreign...
Jan 12, 2024 · Venezuela kills off petro cryptocurrency. Venezuela is putting an end to the petro cryptocurrency that President Nicolas Maduro launched six years ago to sidestep US sanctions, but which never took off and became embroiled in a graft scandal.
