After the pre-sale period for Venezuela’s cryptocurrency Petro has ended, President Nicolas Maduro revealed that the country has granted authorization to 16 crypto trading platforms.
According to Correo del Orinoco, a national newspaper, Nicolas Maduro has “authorized the certification of 16 exchange houses for cryptocurrencies”. His objective is to list Petro on the international market.
“The certification of these 16 exchanges is a demonstration of confidence in the system of the Petro, as a cryptocurrency, and will allow liquidity and solid transactional volume,” stated the President during the Venezuela Power Expo 2018.
The announcement comes in contradiction with the latest disclosures by the Venezuelan authorities, which have suspended several crypto exchanges.
These are the 16 crypto exchanges
The cryptocurrency exchanges benefiting from certification from Venezuela’s President are “Criptoexchainge, Criptocapital, Asesoría Financiaera CA, Italcambio, Amberes Coin, Cave Blockchainge, Valoratta Casa de Bolsa, Coinsecure.ve, Critiaechainge, Criptolago, Criptoventraige CA, Criptoactivo Menets CA, Criptoactivo Bank CA, Criptomundo House of Intercambio CA, Inversiones Financieras 1444 CA, and Criptoactivo Criptoes,” according to the publication. However, none of the above-mentioned platforms have publicly disclosed the acceptance of listing Petro.
Coinsecure is one of the 16 crypto exchanges
The Indian-based Coinsecure platform has announced that Venezuela proposed them a 30% discount to crude oil purchases in exchange for Petro’s listing.
“The offer that they have given to the Indian government is: you buy Petro and we will give you a 30 percent discount.”
Mohit Kalra, the CEO of Coinsecure added that “Venezuela wanted to add Petro as a cryptocurrency on Coinsecure, so they can trade Petro against bitcoin and the rupee,” according to Business Standard.
The pre-sale period for the acquisition of Petro was officially announced finished. The President of Venezuela said with enthusiasm that “I have to report on the closing of El Petro’s first pre-sale. We closed with an amount of $3,338 million. An economic miracle. Boot The Petro!”
Maduro revealed that $ 1 billion of Petro’s investment and sales will be allocated to the Venezuelan economy. He argued that he would not give up promoting the country’s cryptocurrency. Maduro has disclosed about launching an “Industrial and Economic Investment Fund in Petro“, for which “8.5 million Petro equivalent of $510 million for credit loans” have been already invested.