HOME> News> President of the Republic of Venezuela-Maduro Instructs the Largest Bank of the Country to Open Peter’s Window
Venezuelan President Nicolas Maduro has ordered the largest domestic bank, the Bank of Venezuela (Banco de Venezuela), to open a dedicated window for the government-issued cryptocurrency “Peter” (PTR).
The Bank of Venezuela has approximately 790 stores in the country, and the order of President Maduro will force the bank to open a petro window at all stores.
Following the announcement, there has been a 25% price increase at the exchange that handles Peter.
Last month, President Maduro announced a policy of distributing Peter’s wallet to one million young people in the country. It is said that each wallet contains a certain amount of petro as an incentive to spread petro.
Petro is a government-issued cryptocurrency announced by the Maduro government in December 2017, the value of which is secured by oil produced in the country.
Although Peter’s issuance is an initiative to break out of the hyperinflationary economy under Venezuelan legal currency “Bolivar”, it is suspected of its usefulness and credibility from inside and outside the country.
Article Source: CCN
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Author: Yuya 【Coin Desk News】 – Source Post: http://gestyy.com/w2b0MK
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