Venezuela's Sunacrip launches a Petro-Based Gift Card Market and Exchange

This will allow Venezuelans to use their Petro (PTR) for more functions. It now offers an embedded cryptocurrency exchange, which allows users to trade petros for other currencies. There are also a variety of payment and gift options that can be used to increase adoption.

Petro Relaunch aims to offer more use cases

Sunacrip is Venezuela's cryptocurrency regulator institution. It has made a number of changes to Petroapp, its petro (PTR), wallet app. These changes are intended to make cryptocurrency more accessible. Joselit Ramirez (head of Sunacrip) explained the changes and listed the new functions via social media.

Ramirez declared

We have now updated PetroApp with new services to enhance the useability of our sovereign crypto asset.

Ramirez stated that Petroapp's redesign will enable users to pay for their phone plan with all national carriers. The app will also allow users to pay in petros for the three largest cable operators in the country.

Gift cards, exchanges, and payments

This update will make it easier to buy petros directly through the app. You can also use the national fiat currency for these crypto assets. These assets can also be used in the app for exchange with other supported cryptocurrencies, such as bitcoin, litecoin and dash. It is possible to withdraw them from the platform too.

Ramirez stated that Petroapp also includes a payment gateway. This allows users to create invoices and pay them through the app. Sunacrip's head stated that this transforms "each mobile device into an point of sale, and the PTR into payment," something the Venezuelan government has advocated since the launch cryptocurrency.

This is evident from the announcement of a gift-card market. According to Ramirez, the market will allow users to buy gift cards and pay for services such as Netflix.