Maduro: Venezuela will activate a crypto payment method soon

by in Cryptocurrency News

Nicolas Maduro

President of Venezuela Nicolas Maduro said in a press conference that the government of his country uses cryptocurrencies as a method for free international and national payments.

Related: Burger King Venezuela now accepts crypto payments

During the press conference on 30 September, Maduro said that Venezuela is cooperating within the crypto world and Central bank of Venezuela with the finance minister have a project of a new tool which will activate in the nearest future. This tool is going to let everyone perform banking transactions and all kind of payments using the central bank’s accounts.

The central bank of the country has already started internal testing to find out if it can hold cryptos in its reserves.

In an earlier press conference, Juan Guaido, who is recognized by more than 50 countries as the rightful leader of Venezuela, said that usage of cryptocurrencies by the regime shows desperation.

Maduro also talked about US sanctions, saying that they are blocking the country from carrying out transactions in any of the world’s banks, still, there are other formulas to pay, and it’s what they are using because their payment system works perfectly in China and Russia.