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John Wang
April 12 15:28

Venezuela gets an offline crypto trading service

Government initiative bears fruit.
Criptolago - the brokerage company from Venezuela - has revealed a new service for crypto exchange. Now the traders in the country can carry out any transaction through SMS text messages.
According to the announcement, the project has been developed after Nicolas Maduro requested fintech companies to create payment services as alternatives for the classic systems. The president has underlined the necessity of creating offline services that can support Petro transactions.
The state cryptocurrency is known for its volatility and unstability. The limits of the token reflect on its value. The Venezuelan authorities claim that its price is US$58,9. However, on April 1, the token has been trading at US$11.50.
Criptolago’s service supports not only Petro, but also Dash, Litecoin and Bitcoin, as well as Glufco - the official token of the national crypto bank. All transactions can be completed without the connection any Internet. Users can also make payments in bolivars. At the moment only registered traders can use the service. The entry process, however, remains simple.