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Venezuela's regulator urged to use Petro for cross-border transfers

Venezuela’s regulator urged to use Petro for cross-border transfers

Head of the Department of the office of crypto assets and related operations (Sunacrip) Venezuela has called on the public to use the Petro cryptocurrency for cross-border transfers.

During the program, which was broadcast on the national radio of Venezuela, Joselit ramírez, who is responsible for the introduction and distribution of the country’s national cryptocurrency, noted a number of advantages of the Patria trading platform.

“This is the most convenient and secure way to send money from abroad to the people of Venezuela. The transfer uses the Petro cryptocurrency, which is available to all citizens, ” Ramirez said.

As noted, the Petro cryptocurrency, officially launched on February 20, 2018, is the world’s first digital asset supported by the state. The main feature of Petro is the provision of cryptocurrency with the country’s oil reserves.

“The implementation of Petro was carried out within the framework of a program developed by the President of the Republic, Nicolas Maduro, in order to resist the attacks of imperialism, as well as to speed up the process of eliminating the consequences of the war,” Ramirez added.

According to the official, the national cryptocurrency of Venezuela pursues goals other than the us dollar. Petro’s primary goal is to protect the savings of Venezuelan citizens.

“The world is not standing still, a new economic revolution is coming, which will also develop in Venezuela and contribute to the world economy. The traditional financial system has a number of problems that are becoming more and more obvious. That is why bitcoin appeared, and then other cryptocurrencies. They allow ordinary citizens to access the modern economic world, ” Ramirez said.