Home » Venezuela Sees Petro as World Oil Markets’ Cryptocurrency

Venezuela Sees Petro as World Oil Markets’ Cryptocurrency

Petro 864x467 - Venezuela Sees Petro as World Oil Markets’ Cryptocurrency


‘Petro will become the digital currency of oil transactions worldwide; we will present it to OPEC, it is one of the internationalization measures of the currency.’ Manuel Quevedo, the country’s minister of petroleum and the president of state-owned oil company PDVSA, announced on Wednesday. 

It is expected the move to enable Venezuela to start using the token to market its oil from the first quarter of next year that will help improve the country’s economy.

Companies interested in Venezuelan oil products have been invited to join the Petro cryptocurrency platform. Quevedo has invited shipping companies and airlines to register for a digital wallet to transact in the petro.



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