Venezuela approves 6 exchanges for the sale of the “Petro” cryptocurrency

Venezuela approves 6 exchanges for the sale of the “Petro” cryptocurrency

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Answer Venezuela approves 6 exchanges for the sale of the “Petro” cryptocurrency

The national Venezuelan government has authorized six cryptocurrency exchanges to start selling the national cryptocurrency known as “Petro.” The token was launched earlier this year and is now the national currency of the South American country of Venezuela.

Six cryptocurrency exchanges will now sell the Petro cryptocurrency

According to local media, six websites claiming to be certified cryptocurrency exchanges have been commissioned by the government and responsible for the marketing and sale of the Petro cryptocurrency.

A local press platform known as Noticiero Digital has written:

“The petro will be available from Wednesday, October 17, on six exchanges, although the president (Maduro) announced earlier that there will be 16 approved companies that can market the digital currency.”

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The six stock exchanges are:

Bancar and its website (

Afx Trade and its website (

Cave Blockchain and its website (

Amberes Coin and its website (

Cryptia and its website (

Criptolago and its website (

Some of them have already started advertising the new cryptocurrency “Petro” on their platforms. In a speech earlier this month, Venezuelan President Nicolas Maduro said Petro will be available on six of the world’s most powerful trading platforms.

A comprehensive look at the mentioned trading platforms reveals some interesting facts. The “Cryptia” website has listed three cryptocurrencies that trade against Bitcoin: ETH, XRP, and Dash. However, they all have zero trading volumes.

In the sections of the site written in Spanish, the following was mentioned:

“You can get coin [بترو] and exchange it with Bitcoin, Ethereum or US dollars.”

Another Amberes Coin platform describes itself as a trading platform authorized by the state government to buy and sell digital assets of Petro, Bitcoin, Ethereum and other digital assets that are legally permitted in the country (Venezuela).

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Afx Trade also describes itself as a data trading platform that supports the buying, selling and protection of digital assets inside and outside the national territory of Venezuela.

Early this month, the Maduro government released a new Petro White Paper that bears a striking resemblance to another cryptocurrency, Dash.

In addition, the “petro currency” is no longer backed solely by oil, as was said in December last year. The document says the currency is now backed by 50% of oil, 20% of iron, 20% of gold and 10% of diamonds.

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