Venezuela to Launch Decentralized Stock Exchange, 90 Day Pilot Begins

Venezuela to Launch Decentralized Stock Exchange, 90 Day Pilot Begins

By Abhimanyu Krishnan | News | 5 Oct 2020


Venezuela launched a decentralized stock exchange after President Nicolas Maduro announced several initiatives on October 1, aimed at countering sanctions imposed by the United States.

  • President Maduro detailed several strategies, putting cryptocurrencies front and center, and saying that the new law would promote digital currencies
  • The decentralized stock exchange, BDVE, was launched a few hours later; traders will reportedly be allowed to trade tokenized versions of traditional assets on the Ethereum (ETH) blockchain
  • The pilot exchange will run for 90 days; following which local regulators will determine if it should continue
  • Tradable assets include stocks, ETFs, real estate, derivatives, commodities, and bonds; these assets will take the form of ERC-223 or ERC-721 tokens

Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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