Venezuela Govt Announces New Cryptocurrency Platform

By Tabassum
Published August 27, 2019 Updated August 27, 2019
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Venezuela Announces New Cryptocurency Platform, Patria Remesa

Venezuela Govt Announces New Cryptocurrency Platform

By Tabassum
Published August 27, 2019 Updated August 27, 2019

In a press report on Monday, the Venezuelan Govt has announced the launch of a new state-run cryptocurrency platform, Patria Remesa.

Venezuela to Leverage Crypto with New Platform

Venezuela, on August 26, announced announced a new step to promote the adoption of cryptocurrencies. The Venezuelan Govt seeks to help citizens working outside of Venezuela in sending money home quicker and cheaper via its new platform, Patria Remesa.

It is to be noted that Venezuela’s attitude towards the crypto industry has been quite positive as the country earlier launched its own oil-backed cryptocurrency to resolve its prevailing financial issues. On a similar note, the press release notes that the Govt considers crypto trading as a way to bolster its economy.

Venezuela’s official crypto-token, Petro will have a key role in its upcoming crypto platform. The press release reads that international payments via the Petro are safer and more affordable than existing remittance services which citizens outside of the country are currently using to send money to friends, family, relatives residing in Venezuela. Echoing this view; Venezuela’s National Crypto Superintendent Joselit Ramirez urged that crypto is the “most secure way to send a remittance into the country.

Also, Ramirez elaborated the nuisance of the traditional financial system. He says that the cryptocurrencies open new ways to the economic world as the traditional financial system is no longer enough. He said in his Venezuela Crypto Program which is broadcasted on the National Radio of Venezuela;

“The world is evolving, there is a new economic revolution that is coming to continue advancing in the country and contribute to the world economy,”

The Google-translated press also states that the Patria Remesa will work via Patria system and is fully operational. No other details have been unveiled on how the new platform will work in the crypto industry.

Stay tuned with Coingape to know the latest updates on Patria Remesa crypto platform.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
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Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]

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