Venezuelan Banks Start Using the Petro to Denominate Customer Balances16.08

Venezuela’s controversial national cryptocurrency, the petro, is slowly permeating the everyday lives of its citizens. The currency, each unit of which is supposedly backed by a barrel of oil, has begun appearing on screens when Venezuelan customers log in to their bank accounts. The move marks the latest attempt by President Nicolás Maduro’s government to force adoption of the petro.

Also read: Venezuela’s Supreme Court Orders Payment in National Cryptocurrency

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