Nicolas Maduro

P2P Bitcoin Trade Volumes and Inflation in Latin America Are on the Rise

During the last two months since the March 12 crypto market rout, otherwise known as ‘Black Thursday,’ demand for cryptocurrencies seems to be on the rise in certain regions in Latin America. Various reports published this week have noted that countries like Colombia, Venezuela, Argentina, Chile, Brazil, and Mexico have seen significant bitcoin trade volumes....
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Nicolas Maduro: You Can Now Buy Our Venezuelan Oil in Crypto Petro

Venezuelan President Nicolas Maduro heralds the arrival of the Petro cryptocurrency, which can now be used to buy the nation’s vast oil reserves. | Image: REUTERS/Carlos Garcia Rawlins/File Photo 2020 could be the year Venezuelan oil will be finally exchanged for the Petro crypto. The national cryptocurrency is yet to find a use outside its...
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Maduro Plans to Airdrop Petro to Municipal Leaders and Eligible Citizens

The president of Venezuela, Nicolás Maduro wants the nation state-issued cryptocurrency, petro (PTR) to have the same usability properties as a physical currency. On December 13, Maduro explained on national television that the Superintendence of Crypto-Assets and Related Activities (Sunacrip) will be airdropping 0.5 PTR ($30) next week to eligible citizens who register with the...
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Venezuelan Pharmacy Chain Accepts Bitcoin Cash for Medicine and Products

On August 26, a pharmacy chain in Venezuela called Farmarket revealed it now accepts cryptocurrencies through the payment provider Xpay, a subsidiary of Panda Group. Arley Lozano, Panda Group’s founder, explained how Farmarket’s pharmacy franchise has 22 stores located across the country and machines will allow people to purchase goods and medicine with cryptocurrencies like...
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