Venezuela Releases Android App For Old Bolivar-Petro-Backed Coin Conversion

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Yuri Molchan
The new app bears the name “Calculadora Soberana” (Sovereign Calculator) and it helps to exchange the old fiat Bolivar into the new Sovereign Bolivar money
Venezuela Releases Android App For Old Bolivar-Petro-Backed Coin Conversion
Cover image via U.Today

The new app bears the name “Calculadora Soberana” (Sovereign Calculator) and it helps to exchange the old fiat Bolivar into the new Sovereign Bolivar, backed by the Petro crypto coin.

The conversion happens at the rate one to 100,000.

Currently, the app has had over 10,000 downloads and is rated 4.7 on Google Play. The number of views barely reaches 200.

Earlier in August, Venezuelan president Nicolas Maduro conducted a devaluation of Bolivar by 95 percent. He also linked the newly-issued Sovereign Bolivar to Petro, the crypto coin, backed with the local oil reserves.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.