Venezuela’s central bank is considering storing cryptocurrencies

Venezuela’s central bank is exploring storage technologies for bitcoins and ether to ensure they are safely deposited in the state treasury.

According to Bloomberg, the state oil and gas company Petroleos de Venezuela SA has asked the Central Bank to consider this issue, since it is having difficulties in receiving fiat payments from foreign clients due to the sanctions.

PSDV plans to transfer bitcoins and ether to the central bank in order to be able to pay with cryptocurrency suppliers. Hoping to overcome economic isolation, financiers have begun to actively explore existing digital asset storage solutions and how to account for them in the national reserve..

Venezuela's central bank is considering storing cryptocurrencies

In addition to public cryptocurrencies, the country is actively promoting its national coin El Petro, which has been accepted since July. all branches of the Bank of Venezuela, and since December last year they have been using it to pay pensions.

text: Ivan Malichenko, photo: elpolitico

Venezuela's central bank is considering storing cryptocurrencies

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