June 19, 2024

Venezuelan government working on cryptocurrency payment solution for citizens of the country

Venezuelan government working on cryptocurrency payment solution for citizens of the country

Venezuelan President Nicolas Maduro said that the country's government intends to introduce cryptocurrencycalculations for citizens. Maduro spoke about this during a televised press conference. Free national and international payments will allow everyone to conduct banking transactions.

From the Minister of Finance and the Governor of the Central BankVenezuela has innovative tools whose activation is just around the corner. In this way, everyone will be able to make banking transactions, as well as national and international payments through central bank accounts. Venezuela operates in the world of cryptocurrencies, – Maduro said.

Just last week, there were reports that the Central Bank of Venezuela is considering adding cryptocurrencies, in particular BTC and ETH, to the country's international reserves.

Venezuela also already has its owna state cryptocurrency backed by oil reserves called Petro. At the same time, Maduro is trying to persuade other countries to accept the Petro as an alternative to the US dollar in oil markets and for global trade.