China to Help Venezuela Propel Adoption of Petro Cryptocurrency

Mon, 10/29/2018 - 06:18
Alex Dovbnya
On top of investing a whopping $250 mln in Venezuela’s oil production, China is now betting on the success of the controversial Petro cryptocurrency
Cover image via U.Today

Prensa Latina reports about a recent meeting between Venezuela representatives and financial advisors from China the purpose of which was to determine whether the recently launched oil-pegged Petro coin could serve as an international currency. The National Superintendent of Cryptoactives, Joselit Ramirez, claims that the alliance with China will accelerate the expansion of the Petro coin worldwide.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at

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