As part of Nicolás Maduro’s government’s efforts to safeguard the stability of the financial system, the National Superintendency of Cryptoactives and Related Activities (Sunacrip) presented three new platforms on July 16 to strengthen Venezuela’s cryptocurrency, the Petro: PetroApp, PetroPago and PetroAhorro.

The head of Sunacrip, Joselit Ramírez, expressed his intention to incorporate POS devices in the country’s stores that would accept payments in cryptocurrencies.  In this way, “we will encourage the use of Petro as an alternative means of payment, without rivaling our national currency, the Bolivar,” said Ramírez.