Top Bank Launches Servies For Petro

cryptowarrior88 (59)in #cryptocurrency • 5 years ago

The largest bank in Venezuela, the state-owned Bank of Venezuela, has launched services to facilitate transactions for Petro, the state-backed cryptocurrency.

According to information shared by Bank users, new modules were integrated into the management interface of their accounts to facilitate registration for a digital wallet that supports Petro.

The wallet has been reported to have limited functionality with users only able to transfer the virtual currency via Petro’s official wallet and trade the tokens on authorized local exchanges such as Criptolago and Amberes.

This development follows Venezuela’s President Nicolas Maduro’s directives that the Bank should support Petro which the Bank promptly responded immediately by opening desks to process Petro transactions throughout the country.

It has been noted that despite the many efforts of the government it still struggles to drive Petro adoption with locals turning to Bitcoin and other non-government issued cryptocurrencies.