Venezuela’s Petro Token Receives Mainstream Adoption From Country’s Big Player

Published July 26, 2019 | Updated July 26, 2019

Source: Sutterstock

Venezuela’s Petro Token Receives Mainstream Adoption From Country’s Big Player

Venezuela’s Petro is one such crypto token that comes often in limelight. The token has recently received a mainstream adoption from the largest department stores in the country, Traki.

Traki Accepting Petro Token

Traki, the country’s largest department stores recently began accepting Petro tokens as a form of payment. Though this is not something Traki officially released but following the hours of speculations, National Superintendency of Crypto assets which are country’s prime authority engaging in crypto regulations posted pictures on its Twitter account. The tweet reads that traki accepts Petro as a means of payment since June 25.

Traki is Venezuela’s biggest department store which earlier started accepting Bitcoin as payment along with a couple of other cryptocurrencies including, Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC) and Dash. Petro is an attempt by Venezuela, specifically launched to circumvent international sanctions which resulted in the country into an economic crisis.

By having the largest cryptocurrencies and Petro token as payment in its bucket, Traki has received significant attention since early 2018. However, it makes difficult for citizens to convert these crypto tokens into country’s fiat money which led Traki to restrict such efforts.


But crypto revolutions seems quite a good experience for the international visitors, visiting Venezuela. One such comment that came out in favor of Traki on accepting crypto is as follows;

Today I went to Traki in Valencia, and when I said I was going to pay with crypto, the interrogation face of all the staff was a poem. If you are going to accept crypto, which I think is wonderful, please instruct your staff because far from encouraging this means of payment, what you achieve is to frighten away its use. Do not make such announcements if you are not really prepared. Greetings

Traki’s latest acceptance of Petro token excited country’s citizen. One such user took to twitter and stated that;

Image Source – Shutterstock

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.
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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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