Venezuelan President Nicolás Maduro has announced that the country will soon open a casino that uses the state cryptocurrency petro.
Trijo News has written several times before about Venezuela’s state cryptocurrency petro. Here you can read about how the country gave a sum of money in the cryptocurrency as a Christmas present to the country’s pensioners.
In the past, petro has been seen primarily as a way to avoid US sanctions against the country, but now Venezuela seems to have come up with another area of use for the cryptocurrency, reports Bitcoin.com.
Located in a national park
Venezuelan President Nicolás Maduro has announced at a press conference that an international casino using petro will open in the Hotel Humboldt, located in the Avila National Park just outside the country’s capital Caracas.
The news is startling because Nicolás Maduro’s predecessor and mentor, Hugo Chavez, during his time as president, closed all of Venezuela’s casinos because he thought they promoted prostitution, drugs and other crime.
The profits from the casino will go to the country’s crisis health care and education system, but apart from that, not much is known about the new casino.
Should be able to exchange bitcoin for petro
Guests will be able to invest money in petro that can be exchanged for both fiat money and cryptocurrencies such as bitcoin. Nicolás Maduro did not give any clear answers on how this should go in practice, during his press conference.
The casino is expected to open in the coming months, writes Bitcoin.com
