Venezuelan Banks Start Using the Petro to Denominate Customer Balances

In the last few days, a number of  Venezuelan residents have reported seeing the petro appear as a unit of account when performing their online banking. Despite customers having expressed no interest in using the cryptocurrency, national banks have begun to introduce it at the government’s behest, in a bid to normalize the petro and ultimately secure adoption. News.Bitcoin.com has received reports of Banesco and Mercantil, two of Venezuela’s largest banks, introducing the measure. More…