Venezuela is planning a decentralized exchange

The country on the Caribbean coast is floating on the crypto wave. The national securities supervisory authority is launching a decentralized securities exchange called BDVE.

But neither the national crypto currency Petro nor Ethereum are mentioned in reports

Venezuela goes with a new crypto-related ideaat the start. The country is planning to introduce a decentralized exchange based on crypto and fiat assets. The exchange is said to have a global reach. And this despite all the sanctions that have already caused severe damage to the economy of the small, socialist country.

According to reports, Venezuela’s National Securities Commission has enabled the pilot project of the decentralized exchange to be launched. The exchange with the name BDVE will be tested within the next 90 days. If it performs well, it is up to the local securities authority to continue the license to continue trading. The published operations manual indicates that the exchange will offer ERC-223, ERC-721 and third „packable“ tokens. But the word „Ethereum“ is not mentioned directly anywhere. Neither does the country’s indigenous cryptocurrency, the oil-backed Petro.

This is surprising since Nicolas Maduro, the country’s president, has made a number of attempts over the past few years to promote the use of Petro, even to force it

According to the website, the BDVE is the first decentralized exchange in the world. In addition, users of the exchange can have unlimited access from anywhere in the world, not just within Venezuela. In addition, the stock exchange is described as a new and innovative stock market segment. It uses communication and information technologies that provide investors with a high level of security and control over their financial investments, the website continues.