Last month, Venezuela became the first country to issue its own cryptocurrency with the launch of the purportedly oil-backed Petro. Now, the digital currency is available for purchase with a variety of fiat currencies — just not the dollar.
Petro for Fiat
Venezuelan citizens, companies, and other interested parties may now purchase the country’s oil-backed cryptocurrency with a selection of fiat currencies.
In an announcement made on national television last Thursday, Venezuelan President Nicolas Maduro stated:
Starting March 23, all legal and physical entities will be able to purchase the petro directly… within the next 15 days for convertible currencies: yuan, rubles, Turkish liras, and euro.