Venezuela launches pre-sale of its oil-backed cryptocurrency
Venezuela on Tuesday formally launched a pre-sale of its state-backed cryptocurrency 'Petro' in a bid to recover from its worst financial crisis. The Latin American country has said that it received over â¹4,700 crore on the first day of the pre-sale of 'Petro' which is backed by its oil reserves. Venezuela claims 'Petro' as the world's first state-issued cryptoasset.