16 Cryptocurrency Exchanges have Obtained a License in Venezuela

As the pre-sale period for the country’s digital currency Petro finished, the President of Venezuela, Nicolas Maduro has announced the project collected more than 3 billion dollars. He has also certified 16 crypto exchanges, hoping they will add the Petro to their trading lists.

“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,” Maduro said during the inauguration of the Venezuela Power Expo 2018 in Caracas.

According to the government-controlled newspaper Correo del Orinoco, the President has approved the intention to certify 16 exchange platforms for virtual coins, including blockchain-based bitcoin. Maduro considers the move as one that will help the Petro to enter the world’s cryptocurrency market.

The approved list of 16 crypto trading platforms includes Criptoexchainge, Criptocapital, Asesoría Financiaera CA, Italcambio, Amberes Coin, Cave Blockchainge, Valoratta Casa de Bolsa, Coinsecure.ve, Critiaechainge, Criptolago, Criptoventraige CA, Criptoactivo Menets CA, Criptoactivo Bancar CA, Criptomundo Casa de Intercambio CA, Inversiones Financieras 1444 CA, and Criptoactivo Criptoes. Nevertheless, there are no official proofs that institutions mentioned above will list the Petro.

Coinsecure with headquarters in India has obtained a license for its activity in Venezuela. The CEO of Coinsecure Mohit Kalra told Business Standard that Venezuela had wanted to add the Petro as a crypto coin on their fintech platform and trade it against bitcoin and the rupee. Furthermore, Venezuela has allegedly offered India a 30% discount on crude oil if it agrees to use the Petro.

According to Maduro’s announcement on Thursday, the Petro pre-sale has gathered over $3 billion: 

“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!”