The Venezuelan government has told that it will integrate bitcoin and litecoin wallets into the government’s cryptocurrency exchange patria.

The news surfaced in a new update published on Blog Patria platform.

The blog said that integrating Bitcoin and Litecoin wallets into the platform and providing remittances would enable Venezuelan citizens to officially receive remittances in the form of cryptocurrency.

Already, many citizens have turned to the use of cryptocurrencies to escape the inflation in the Venezuelan national currency and the failure of the petro digital currency based on petroleum.

Addition plans for Bitcoin and Petro trading:

The official inclusion of Bitcoin and Litecoin in the national remittance system is likely to boost the use of cryptocurrencies by Venezuelans.

Read:Terra Founder Denies Transferring Bitcoin to His Private Wallet

For the record, Venezuela already ranks third in the list of countries with the highest use of cryptocurrencies in the world.

The announcement came from the “Patria” platform, confirming the continuation of the pattern and direction of the Maduro government in facing the effects of US sanctions.

It was previously announced on the “Patria” platform on October 28 through a post that stated that there is preparation for the integration of the petro, bitcoin and litecoin trading pairs, and the post did not carry many details about the system or how to trade.

The post also did not specify the amount of commissions and fees for trading between currencies.

First Steps Towards Government Adoption of Bitcoin and Litecoin:

Although the update does not provide many details, it does clarify that some functions and services that use cryptocurrencies will be introduced in phases.

The update posted on the Patria blog, written in Spanish, says:

In the few days following this update, some of this functionality will only be available to a select number of users for purposes of testing changes.

Patria will gradually integrate all of these services as well as a host of others, which will require several days of updating and monitoring.

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Despite accusations by the US government that Venezuela is using bitcoin to evade sanctions, the authorities in Venezuela now seem more determined to embrace the best cryptocurrencies than before.

The government also recently announced the official recognition and approval of cryptocurrency mining.

What remains is the extent to which the Venezuelan people will adopt the solutions proposed by the government to confront the economic challenges and to lift the US embargo.

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