Venezuela to launch cryptocurrency to fight 'blockade': Maduro

Reuters News
Posted: Dec 03, 2017 2:36 PM

CARACAS (Reuters) - President Nicolas Maduro said on Sunday that Venezuela will launch a cryptocurrency to combat what the leftist leader says is a financial "blockade" against the crisis-hit nation.

Maduro said the OPEC member's new currency, "petro," will be backed by natural resources reserves.

(Reporting by Alexandra Ulmer; Editing by Mary Milliken)