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Venezuela opens 90-day pilot ‘decentralised stock exchange’ to the world

Venezuela opens 90-day pilot ‘decentralised stock exchange’ to the world

Quick take

1 minute read

  • The national security superintendency in Venezuela has recently given the green light this week for a 90-day pilot trial of a crypto powered stock exchange. 
  • As a result of this decentralised platform, it aims to have an international reach despite the global sanctions.

The national security superintendency in Venezuela has recently given the green light this week for a 90-day pilot trial of a crypto powered stock exchange. As a result of this decentralised platform, it aims to have an international reach despite the global sanctions.

Known as BDVE, the exchange claims that its platform will be the first decentralised stock exchange on the globe. To add to this, it highlights that users will be able to access the platform from anywhere in the world and they won’t have to worry about restrictions either. It will be alternative digital assets and Fiat currencies traded on the exchange.

Following the pilot test of 90 days, the local watchdog of securities in the country will make a decision as to whether it will be able to continue its trading activities.

One thing that the platform does note is that securities that are traded on the network will consist of ERC-223 or ERC-721 tokens.

But interestingly enough, the oil-backed petro cryptocurrency in Venezuela was not mentioned at all by the exchange.

For more news on this and other crypto updates, keep it with CryptoDaily!

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