The president of Venezuela, Nicolas Maduro, has announced the end of the pre-sale for the Petro, the country’s “cryptocurrency”. He claims it has raised the equivalent of over 3 billion dollars. Maduro has also certified 16 crypto exchanges he hopes will start listing his country’s new currency.
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16 Crypto Exchanges Certified
According to Venezuelan newspaper with government backing Correo del Orinoco, Maduro has “authorized the certification of 16 exchange houses for cryptocurrencies,” which will facilitate Petro transactions in the international market. Maduro was quoted saying during the inauguration of Venezuela Power Expo 2018 in Caracas:
The certification of these 16 exchanges is a demonstration of confidence in the system of the Petro, as a cryptocurrency, and will allow liquidity and solid transactional volume.
The news follows the announcement of Venezuela’s major crackdown on crypto exchanges and remittance businesses dubbed Operation Paper Hands.
Maduro talking at Venezuela Power Expo 2018.
The certified 16 exchanges are “Criptoexchainge, Criptocapital, Asesoría Financiaera CA, Italcambio, Amberes Coin, Cave Blockchainge, Valoratta Casa de Bolsa, Coinsecure.ve, Critiaechainge, Criptolago, Criptoventraige CA, Criptoactivo Menets CA, Criptoactivo Bancar CA, Criptomundo Casa de Intercambio CA, Inversiones Financieras 1444 CA, [and] Criptoactivo Criptoes,” the publication detailed. However, there is no confirmation that any of them have agreed to list the Petro at the time of this writing.
Coinsecure’s Comments
India’s Coinsecure is on the list of exchanges certified by Venezuela. CEO Mohit Kalra said that “Venezuela wanted to add Petro as a cryptocurrency on Coinseure, so they can trade Petro against bitcoin and the rupee,” Business Standard reported on Saturday.
Venezuela has reportedly offered India a 30% discount on crude oil purchases if India uses the Petro, the
