Time in Yerevan: 11:07,   16 April 2024

Venezuela to have new gold-backed cryptocurrency

Venezuela to have new gold-backed cryptocurrency

YEREVAN, FEBRUARY 22, ARMENPRESS. Venezuelan President Nicolas Maduro has said that the country received $735 million in the first day of a pre-sale of the new “petro” cryptocurrency.

“I don’t want to get ahead of time, but we have a surprise regarding the gold petro, which will have similar parameters like the oil petro”, he said, adding that the new cryptocurrency of the country will hit the markets next week.

Venezuela began selling the oil-backed petro since February 20.

Venezuela became the first country to have its own cryptocurrency backed with oil, gold and diamond reserves, RIA Novosti reported.

English –translator/editor: Stepan Kocharyan








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