By Mason Mohon | @mohonofficial

Nicolas Maduro has authorized 16 cryptocurrency exchange services in his country in hopes that they will adopt the Venezeualan cryptocurrency “Petro” onto the international market. Maduro was quoted saying:

The certification of these 16 exchanges is a demonstration of confidence in the system of the Petro, as a cryptocurrency, and will allow liquidity and solid transactional volume.

This comes right after Venezuela’s recent crackdown on various cryptocurrency exchanges.

Although there is no confirmation that any of the exchanges are expected to adopt the Petro, they are expected to still move forward with the certification.

The exchanges are: Criptoexchainge, Criptocapital, Asesoría Financiaera CA, Italcambio, Amberes Coin, Cave Blockchainge, Valoratta Casa de Bolsa, Coinsecure.ve, Critiaechainge, Criptolago, Criptoventraige CA, Criptoactivo Menets CA, Criptoactivo Bancar CA, Criptomundo Casa de Intercambio CA, Inversiones Financieras 1444 CA, [and] Criptoactivo Criptoes.

The Venezuelan government offered India a 30% discount on oil if they adopt the Petro.

Maduro also said he wishes to further promote currency by moving “to create an Industrial and Economic Investment Fund in Petro and I have already contributed, for now 8.5 million Petro equivalent of $510 million for credit loans.”

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