The latest advances in the matter of the “El Petro” Cryptoactive, announced by the Venezuelan President, are described in that sense; the President of the Republic of Venezuela Nicolás Maduro, has authorized to create an industrial and economic investment fund in Petros for an initial amount of 8,500,000 Petros, equivalent to 510 million dollars, with the objective of supporting entrepreneurs from the country.
“I have signed the decision to execute an industrial and economic investment fund in Petro and I have provided for loans, starting tomorrow, 8 million 500 thousand Petros equivalent to 510 million to deliver it in international credit loan to all entrepreneurs in Venezuela” , said the president from the Poliedro de Caracas during the inauguration of the Expo Venezuela Power. Thus, these loans are intended to serve the national business and reactivate the national productive apparatus, either through the purchase of machinery, the strengthening of equipment, among others.
In that sense, Vice President Tareck El Aissami explained that this fund to support industrialists is also returnable in any other cryptocurrency. “That is, they can pay it in Petro or any other cryptocurrency to strengthen that same fund.”
In the same way, the Venezuelan President informed that they will allocate 1,000 million dollars from the transactions of Petro to the Central Bank of Venezuela (BCV) to be injected in the auctions of the System of Exchange Rate Complementary Floating Market (Dicom).
The President informed that with the Petro transactions were carried out in the order of 3,338 million dollars, of which 1,738 million were used for the purchase of food and industrial inputs, as well as one billion will be used to boost the Complementary Type Currency System (Dicom).
“Of those 1,600 million dollars, I have decided to give the Central Bank of Venezuela 1,000 million dollars to increase the country’s international reserves and to strengthen Dicom immediately,” said the President. “Starting, we have managed to sell the equivalent of dollars, euros, rubles and yuan, in Petro managing to close to April 25 with 3 thousand 338 million dollars and these are the first negotiations with large companies,” said the National President.
He also reported on the certification of 16 exchange houses that “will allow a solid flow scheme and demonstrate confidence in the Venezuelan cryptocurrency and stressed that the economy should be at the service of the people.” The so-called authorized Exchanges are:
Financial Counseling C.A.
Valoratta Brokerage House.
Cryptoactive Menets C.A.
Cryptoactive Bancar C.A.
Criptomundo House of Exchange C.A.
Financial Investments 1444 C.A.
and Criptoes Cryptoactive.
The Venezuelan president stressed that these exchange houses will allow users from Venezuela and anywhere in the world to buy the Petromoneda quickly and safely. Italcambio, is the only physical exchange house that the government granted authorization to participate in the world of cryptocurrencies.
The official website for the purchase of Petro is: petro.gob.ve. Only the national government will be able to undermine the Venezuelan Cryptocurrency, which differentiates it from other Cryptocurrencies. Apart from the oil reserves that support it. As it is the state who can mine it, the state can also sell it. Which means that to buy Petro, you must use the regular channels authorized by the government.
On the other hand, the executive informed that he activated Petro Gold as an option so that Venezuelans can save.
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