Venezuelan State Bank Opened El Petro Crypto Wallet Registration

The State Bank of Venezuela has launched the process of registering electronic wallets, which will allow citizens to deposit and spend state-supported cryptocurrency, El Petro. Despite the fact that the Bank of Venezuela has not issued any official statement yet, Decrypt.co reports that customers have noticed the appearance of a new wallet registration module in the user interface on their online accounts.

The process of launching the Petro-wallet is the result of an order of President Nicolas MADURO in early July, according to which the bank was to create a trading system to service El Petro's transactions.

As for today, the registration menu allows customers to "choose the type of crypto" that they would like to register. It is assumed that the bank will also support other crypto assets, such as bitcoin and ether. Until the bank finally launches a secure wallet system, the only way to store and trade Petro is through authorized crypto exchanges.

Image courtesy of Hacked.com