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MercoPress, en Español

Montevideo, November 5th 2024 - 03:23 UTC

Tag: Cryptocurrency Venezuela

  • Monday, August 20th 2018 - 07:20 UTC

    Maduro launches new currency with five zeroes less but the same misery for the people

    The new currency, the sovereign Bolívar, to distinguish from the current strong Bolívar, will be anchored to the widely discredited cryptocurrency, the Petro

    Uncertainty reigned in Venezuela after President Nicolas Maduro unveiled a major economic reform plan aimed at halting the spiraling hyperinflation that has thrown the oil-rich, cash-poor country into chaos. Ahead of a major currency overhaul on Monday, when Caracas will start issuing new banknotes after slashing five zeroes off the crippled Bolívar, Maduro detailed other measures he hopes will pull Venezuela out of crisis.

  • Wednesday, February 21st 2018 - 01:26 UTC

    Petro, the Venezuelan cryptocurrency is online

    The initiative promoted by the government of Nicolás Maduro responds to individual sanctions by the international community against government officials.

    The pre-sale of Petro began early on Tuesday, the cryptocurrency proposed by the Venezuelan government in recent weeks and backed by the country's natural resources. According to experts, it is “ridiculous”, arguing that the creation of a new currency would aggravate the economic crisis in the Caribbean country.

  • Monday, February 19th 2018 - 09:14 UTC

    Venezuela launches its “Petro” crypto-currency, backed with oil, on Tuesday

    “On Tuesday, there will be quite a few announcements about the start of the process,” Vargas said

    Venezuela’s “Petro” crypto-currency will attract investments from Turkey, Qatar, the U.S., and Europe, the country’s crypto-currency regulator, Carlos Vargas, told reporters. The Petro will be offered for sale this Tuesday, February 20th, and comes as Venezuela is suffering from quadruple-digit inflation and chronic shortages of food and medicine.