Venezuela’s New National Currency to Be Backed by Cryptocurrency

In response to the hyperinflation and devaluation of the Venezuelan bolivar, the Venezuelan government has announced that it is creating a new national currency, the bolivar soberano (sovereign bolivar), which will replace the existing bolivar fuerte (strong bolivar). The new national currency will be pegged to Venezuela’s oil-backed cryptocurrency, the petro. This is the first […]

Continue Reading