Venezuelan regulator calls for using Petro for cross-border transfers

The head of the department of the Office of Crypto Assets and Related Operations (Sunacrip) of Venezuela called on the public to use Petro cryptocurrency for cross-border transfers.

During the program, which was broadcast on the National Radio of Venezuela, Joselit Ramírez, responsible for the implementation and distribution of the country’s national cryptocurrency, noted several advantages of the Patria trading platform.

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

As noted, the Petro cryptocurrency, officially launched on February 20 in 2018, is the first digital asset in the world to be 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 in the framework of the program developed by the President of the Republic, Nicolas Maduro, in order to counter the attacks of imperialism, as well as accelerate 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. The primary concern of Petro is to protect the savings of Venezuelan citizens.

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