{"id":7010,"date":"2018-04-30T08:28:37","date_gmt":"2018-04-30T08:28:37","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=7010"},"modified":"2018-04-30T10:07:26","modified_gmt":"2018-04-30T10:07:26","slug":"venezuela-offers-30-discount-on-crude-to-india-in-return-for-petro","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/venezuela-offers-30-discount-on-crude-to-india-in-return-for-petro\/","title":{"rendered":"Venezuela Crude Discount To India, In Return For ‘Petro’"},"content":{"rendered":"

\"\"The pre-sale of Petro, the Venezuelan government backed cryptocurrency, has ended, according to an announcement made by the country\u2019s president Nicolas Maduro. Furthermore, Correo del Orinoco, the newspaper which reported the announcement, also stated that the country has raised over $3 billion dollars through the sale of Petro. To facilitate the adoption of Petro, Maduro has also certified 16 crypto exchanges<\/a>. Maduro hopes that these exchanges will start listing Petro soon. Recently, Venezuela cracked down on crypto exchanges in an operation dubbed Paper Hands.<\/p>\n

According to Correo del Orinoco, Maduro made these announcements while participating in Venezuela Power Expo 2018 in Caracas. Maduro is optimistic that the certification of 16 exchanges will lead to an increase in liquidity of Petro in the market. While closing the Petro presale, Maduro sated \u201cTo date, the pre-sale of El Petro has obtained 3,338 million dollars.\u201d<\/p>\n

Maduro also held a presentation, which shows that the Petro has raised the equivalent of 208.337 billion rubles, 2.744 billion euros, and 21.118 billion yuan. As much as $1 billion raised from the sale of Petro will be spent to revitalize the economy.<\/p>\n

The following are the list of cryptocurrency exchanges certified by Venezuela.
\n\u2022 Criptoexchainge
\n\u2022 Criptocapital
\n\u2022 Asesor\u00eda Financiaera CA
\n\u2022 Italcambio
\n\u2022 Amberes Coin
\n\u2022 Cave Blockchainge
\n\u2022 Valoratta Casa de Bolsa
\n\u2022 Coinsecure.ve
\n\u2022 Critiaechainge
\n\u2022 Criptolago
\n\u2022 Criptoventraige CA
\n\u2022 Criptoactivo Menets CA
\n\u2022 Criptoactivo Bancar CA
\n\u2022 Criptomundo Casa de Intercambio CA
\n\u2022 Inversiones Financieras 1444 CA
\n\u2022 Criptoactivo Criptoes<\/p>\n

None of the exchanges have officially confirmed the list of Petro so far. Notably, Coinsecure, the Indian cryptocurrency exchange, which recently lost about $3.50 million worth 438.318 Bitcoins, is one of the certified cryptocurrency exchanges. Commenting on the certification, Coinsecure CEO Mohit Kalra said<\/p>\n

\u201cVenezuela wanted to add Petro as a cryptocurrency on Coinseure, so they can trade Petro against Bitcoin and the rupee.\u201d<\/p><\/blockquote>\n

Further, Kalra revealed that Venezuela is willing to offer a 30% discount on the purchase of crude oil, if India is willing to pay in Petro. India annually purchases approximately $130 billion<\/a> worth crude oil. India will find it hard to resist the offer.<\/p>\n

The president is also determined to promote the new currency. In addition to the sale of fuel to domestic and international airlines, a paperwork has been signed to create an
\n\u201cIndustrial and Economic Investment Fund in Petro.\u201d<\/strong> Maduro has set aside \u201c$8.50 million Petro equivalent of $510 million for credit loans.\u201d<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The pre-sale of Petro, the Venezuelan government backed cryptocurrency, has ended, according to an announcement made by the country\u2019s president Nicolas Maduro. Furthermore, Correo del Orinoco, the newspaper which reported the announcement, also stated that the country has raised over $3 billion dollars through the sale of Petro. To facilitate the adoption of Petro, Maduro […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[68],"tags":[],"class_list":["post-7010","post","type-post","status-publish","format-standard","hentry","category-cryptocurrency"],"yoast_head":"\nVenezuela Crude Discount To India, In Return For 'Petro'<\/title>\n<meta name=\"description\" content=\"The pre-sale of Petro, the Venezuelan government backed cryptocurrency, has ended, according to an announcement made by the country\u2019s president Nicolas Maduro. To facilitate the adoption of Petro, Maduro has also certified 16 crypto exchanges.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legitgambling.com\/news\/venezuela-offers-30-discount-on-crude-to-india-in-return-for-petro\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Venezuela Crude Discount To India, In Return For 'Petro'\" \/>\n<meta property=\"og:description\" content=\"The pre-sale of Petro, the Venezuelan government backed cryptocurrency, has ended, according to an announcement made by the country\u2019s president Nicolas Maduro. 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