Nicolas Maduro ordered the largest bank in Venezuela to start taking El Petro

The largest bank in Venezuela, Banco de Venezuela, will begin to accept the national cryptocurrency El Petro. The corresponding order was given by President Nicolas Maduro, according to CCN .

Thus, the head of state issued an “urgent decree on the opening of Petro terminals in all branches of the Bank of Venezuela”. Note, there are about 790 Banco de Venezuela branches in the country.

In the local crypto community, the news was received with enthusiasm:

“This is a bold and correct decision to move forward to a hybrid economy, where the country's fiat currency competes with cryptocurrency. It should also be noted that Banco de Venezuela is the most important bank in the Venezuelan financial system and serves the most significant number of clients, ”said José Angel Alvarez, head of the National Cryptocurrency Association of Venezuela.

Recall, for the first time about the creation of digital currency El Petro, which, presumably, should be provided with oil produced in the country, Venezuelan President Nicolas Maduro said in early December 2017.

Later, by order of the president, a number of Venezuelan enterprises were obliged to make deals at El Petro, and then Nicolas Maduro announced that the country would have a new wage and price system tied to the national cryptocurrency.

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