The Venezuelan-based cryptocurrency Petro’s digital platform completed its transactions for 5 days due to maintenance.
During this five-day period starting on Wednesday May 6th, updates and improvements to the technological platform will be worked on to perfect the services and operations it performs. Like the Petro, the Venezuelan stock exchange Antwerp Coin also stopped operating to start maintenance.
Operation will return on Monday, May 11th, at 8:00 am, as reported this morning on its official telegram channel. The National Superintendency for Cryptoassets and Related Activities (SUNACRIP) advised Petro users to take precautions in the event of any inconvenience during this period of platform upgrade and improvement.
“Updates and operational improvements are made on the platform. Our telegram channel will also be active to meet your requirements. The petro blockchain will be updated and on Monday we will sync the exchange with the ecosystem again, ”said Dionisio Sifontes, CFO of Antwerp Coin.
Antwerp coin in Venezuela
This Venezuelan exchange, which has the PTR / VES pair on its platform and gives the opportunity to buy / sell Petro on the Venezuelan market by operating Venezuelan bolivars, the country’s current national currency, also announced the temporary cessation of business at.
Antwerp coin is a stock exchange that is registered with the superintendency for cryptoassets and related activities (SUNACRIP) and also works with other digital currencies such as Bitcoin and Dash in addition to Petro.
Sifontes, the finance director of Antwerp, took the opportunity to clarify the value of the petro.
“There may be arbitrage between the different platforms of the P2P market or the secondary market, but the real value of the Petro is the official side of the cryptocurrency. That is the value of its usability in the various public institutions and companies that accept it as a means of payment. There is a price on the secondary market that the user sets, but the actual value of which is regulated by the Cryptoactive Treasury of Venezuela. Value should not be confused with price ”.
Before Antwerp Coin, there were digital crypto exchange platforms called CriptoLago and FintechGlufco; At that time, CriptoLago announced the launch of a new debit card that could support Bitcoin, Ethereum, Dash, and Petro transactions, expand the catalog of supported cryptocurrencies, and be the first to offer such a service.
The Venezuelan Petro
Petro is the cryptocurrency created by the Venezuelan state with its natural resources. This country is the carrier of the largest proven oil reserves in the world. This digital currency has been widely criticized by financial regulators and governments. Venezuelan President Nicolás Maduro had initially announced that the minimum wage would be half a petro to guarantee a better quality of life for Venezuelans, although in practice this has not been achieved as stated in other reports.
The official Petro website announces the following:
“We are informing the entire community that the Petro platform will be maintained on Tuesday, May 5 through Sunday, May 10, 2020, from 10:00 p.m. Scheduled updates will be made to our technology platform during this period will continue to improve the services and execution of the operations offered. We appreciate the better understanding of the community and users for the inconvenience that may arise. “
In the midst of the current Covid-19 pandemic, the low use of petro-related transactions has become apparent. This period is useful for posting updates on the digital platform and avoiding the main cause of user inconvenience and cancellation of ongoing transactions.