The largest bank in Venezuela will be obliged to provide its customers with access to the national cryptocurrency Petro. It was with such an order that President Nicolas Maduro made a speech on the tenth anniversary of the Bank of Venezuela (BoV). The corresponding decree was published on the official website of the Ministry of Finance.
At the moment, it is known that under the new order, bank customers will be able to acquire Petro’s tokens and deposit them into their deposit accounts. Analysts consider this the last attempt by Nicolas Maduro to force the country’s financial institutions to expand the use and promotion of cryptocurrency.
Despite the critical economic situation of Venezuela, the government of the country, headed by the current president, continues to bend its line increasingly aggravates the overall situation.
Petro’s cryptocurrency is considered by most experts to be the project of a corrupt government that has already caused economic damage to the country in the form of hyperinflation.
Recall that the Petro token was developed and released in February 2018. As stated in the government, the state cryptocurrency is provided with oil and mineral resources and is practically not subject to inflation. The main purpose of the token was considered a circumvention of economic sanctions and overcoming critical inflation. Nevertheless, as early as September last year, facts surfaced, confirming that Petro was not secured and does not carry real value.