December 5, 2023

Venezuelan Central Bank considers storage of cryptocurrencies

Venezuelan Central Bank considers storage of cryptocurrencies

The Central Bank of Venezuela is studying storage technologies for bitcoins and ether to ensure their safe placement in the state treasury.

According to Bloomberg, the state oil and gasPetroleos de Venezuela SA asked the Central Bank to consider this issue, because of the sanctions, it is having difficulty receiving fiat payments from foreign customers.

PSDV plans to transfer Bitcoin and Ether to the central bank so that it can pay suppliers with cryptocurrency. Hoping to overcome the economicisolation, financiers began to actively study existing solutions for storing digital assets and how to account for them in the national reserve.

In addition to public cryptocurrencies, the country is activelypopularizes its national coin, El Petro, which since July began to be accepted by all branches of the Bank of Venezuela, and since December last year has been used for pension payments.

text: Ivan Malichenko, photo: elpolitico