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�Petro�-bolivar: Venezuela to launch oil-backed cryptocurrencyThe petro (?), or petromoneda, launched in February , is a crypto token issued by the government of Venezuela. Petro. Petro logo. Denominations. Cryptocurrencies are becoming a vital tool for Venezuelans to secure the value of their assets, receive remittances, and respond to the. Venezuelans are very open to cryptocurrency, with weekly peer-to-peer Bitcoin trading reaching record high volumes in