The Venezuelans may buy houses and other properties with Petro. The Venezuelans will be able to buy homes and other properties with new national crypt money. President Nicolas Maduro announced that real estate deals with Petro will be approved in April. The government will also finance the construction of 230,000 new homes using funds from the pre-sale of Petro, the oil-backed crypto currency.

Four economic zones are set up to accept payments with Petro

All citizens and legal entities in Venezuela can now buy the national crypto currency through the website, and soon they can spend their Petro. Nicolas Maduro said he will allow the sale of real estate with petroleum-backed crypto unit Petro on April 20th.

Venezuela's president also announced that authorities will create four special and exclusive economic zones to circulate Petro. These regions are; Los Roques, Paraguana, Urena and Margarita Island. Goods and services will be priced with Petro, the new crypto currency issued by the government.

Petro can now be bought with fiat currencies and crypto money

In the past month Nicolas Maduro gave the authority to use Petro to all the savings banks in the country. Later, it was stated that all government agencies dealing with foreign currency were instructed to do the same thing.

Nicolas Maduro, Petro pre-sale for 30 days, more than 200 orders from 133 countries announced that the order. In a statement to local television, Nicolas Maduro set the total amount of orders at $ 5.25 billion. He also noted that Petro could now be bought with cipher currencies such as Russian rubles, Chinese yuan, Turkish lira and euro, and Bitcoin, Ethereum and NEM.

Venezuelans expect three million homes to be built with Petro

Earlier this week, Venezuela's president said he had sold 82.5 million Petrol since February, when national crypt money was removed. The socialist government in Caracas plans to use some of the $ 735 million collected from preliminary sales to finance 236 thousand new homes.

The authorities are planning to build a total of 3 million homes by 2019 under the "Large Housing Mission" initiated in 2011. The construction will be financed with funds from the sale of oil-backed currency. A presidential decree is also expected to allocate 14,000 hectares of state property land to the project. The Venezuelans are looking forward to three million homes to be built with Petro.

"Venezuela rejects measures against Petro."

Nicolas Maduro repeated that the new sanctions brought by the White House were rejected. US President Donald Trump has signed an executive order that prohibits US citizens and legal entities from processing transactions with Venezuelan cryptography in the course of the past days. Nicolas Maduro, who says "Venezuela refuses to take measures against Petro", added that they are aiming at harming the country's economy by sanctions.

He also announced Venezuela will host another Global Blockchain and crypto money technology event. The conference will be held in Caracas in mid-April.