The end of the pre-sell period for one of Venezuela’s biggest exchanges, Petro, has finally come to an end. The announcement was made by the country’s head of state, Nicolas Maduro, who was very impressed by the amount that the campaign raised so far (an equivalence of more than 3 billion).
Green Card to 16 Crypto Exchanges
As the president of Venezuela announced the end of Petro pre-sale period, he also took up the opportunity to certify a total of 16 virtual currency exchanges in the country. His main hope is that these 16 new Cryptocurrency exchanges would help a great deal in listing Venezuela’s new currency.
More Details About the Authorization
Based on an article that was run on Correo del Orinoco, a Venezuelan newspaper that is backed by the government of the country, the president has authorized the certification of 16 virtual currency exchanges.
This, according to the president, Nicolas Maduro, is what will push the transaction of Petro in the global financial market.
While speaking at a summit dubbed Venezuela Power Expo 2018 that was held in Caracas; Maduro stated that the authorization of those exchanges has exhibited a great confidence in Petro’s whole system. This will, in turn, bring in a potential trading volume and liquidity to this reigning exchange house in Venezuela.
Operation Paper Hands
The news of the certification of 16 crypto exchanges in Venezuela came barely a day after another crackdown had been launched.
In an exercise dubbed Operation Paper Hands, the Venezuelan authorities announced a huge crackdown on virtual currency remittance enterprises and exchanges that operate in the country. The main aim of this exercise is to ensure that there is a safe trading environment for those who might want to try their hands on this market.
The Certified Exchanges
The names of the crypto exchanges that had a reprieve over the weekend are listed down here; Criptoactivo, Inversiones Financieras 1444 CA, Criptomundo Casa de Intercambio CA, Criptoactivo Bancar CA, Criptoactivo Menets CA, Criptoventraige CA, Criptolago, Critiaechainge, Coinsecure.ve, and Valoratta Casa de Bolsa.
The other exchanges that were certified were Cave Blockchainge, Amberes Coin, Italcambio, Asesoria Financiaera CA, Criptocapital, and Criptoexchainge.
At the time this article was made, there was no confirmation that any of them had agreed to list Venezuela’s Petro.
$3.3 Billion Raised
While speaking at the closing ceremony for Petro’s pre-sale last week, Maduro hinted that the campaign has so far raised over $3 billion.
He termed this as an economic miracle, given the fact that nobody could believe the campaign could raise such an amount within the short period it lasted.
As he went further with his speech at this event that was held on Thursday, 26th April 2018, Mr. Maduro held up a presentation that had the following figures.
The campaign had raised an equivalent of 21.118 billion Yuan, 208.337 billion rubles, as well as 2.744 billion euros. He also went further to note that he will take $1 billion obtained from the campaign and inject it to the country’s economy.