The government has announced the launch of a new state-owned cryptocurrency shipping platform in Venezuela, Patria Remesa. It aims to use crypto commerce as a way to evade other countries’ sanctions. Also, it will increase the country’s monetary power amid record inflation.

The Patria Remesa system can be used to transfer money using the government’s oil-backed crypto, the Petro. The platform is the safest way to send money. The international payments via Petro are safer and more affordable than existing remittance services. It is for transferring assets as remittances from other countries to Venezuela. The National Superintendent of Cryptoactives, Joselit Ramírez said this is a way to avoid the depreciation of income. Additionally, he spoke about the hassle of the traditional financial system. He said cryptocurrencies open new avenues for the economic world. This is because the traditional financial system is no longer enough.

Patria Remesa will work via the Patria system. It is another fully operational government platform in the country. The service will allow Venezuelans to receive Bitcoin, Litecoins and other cryptocurrencies. However, people can withdraw exclusively in Petro or in the country’s fiduciary currency as per the source.

Venezuela’s attitude towards the cryptocurrency industry has been quite positive. Last year, KFC in Venezuela had started accepting Dash cryptocurrency for payments from customers. Also, last month the President of Venezuela, Nicolas Maduro had commanded the leading bank Banco de Venezuela to accept the Petro crypto.