Venezuelan President Orders Airlines to Accept Petro, Cryptocurrencies for Tickets

Venezuela’s oil-backed cryptocurrency keeps making headlines, as the country’s cryptocurrency superintendent, Carlos Vargas, recently announced that airlines in Venezuela can now accept the Petro (PTR) and other cryptocurrencies as a payment method.

The cryptocurrency superintendent announced the move according to instructions from the country’s president, Nicolás Maduro. Via Twitter, he revealed it stating that “airlines are allowed to sell tickets on domestic and international flights in «Petro» and other cryptocurrencies.”
Earlier this month, Maduro ordered several state-owned businesses to transact in Petro when buying and selling products and services. These businesses include PDVSA, a state-owned oil and natural gas company, as well as the Corporacion Venezolana de Guyana (CVG), a decentralized conglomerate whose subsidiaries include precious metal producers.