A landmark seven-star Hotel in the Venezuelan capital will receive payments for services in the country's national cryptocurrency, Petro.
This was announced by Venezuelan President Nicolas Maduro as he inaugurated the revamped Hotel Humboldt in Caracas.
Payments in cryptocurrency has been introduced as a pilot project at Humboldt, which will be the first seven-star hotel in the crisis-hit South American country.
There will be a currency exchange inside the hotel for customers to get Petro.
Speaking on the occasion, Maduro said that he wanted the Petro to be used as the preferred cryptocurrency in the country's entire hotel system.
"Each hotel should have a currency exchange to improve the ecosystem of the Petro," according to him.
Maduro also announced that several crypto exchange points will be opened across the country.
Originally built in 1956 on the Avila mountain with the highest world standards in the hospitality industry, the hotel was twice closed down.
Under an agreement signed by the government and Marriott Hotels, the Humboldt will be run as a franchisee of the international hotels group.
Venezuela had launched its new cryptocurrency Petro in February, which the President hopes would help to ease the country's economic crisis, and circumvent U.S.-led sanctions.
The Venezuelan Government claimed its oil-backed cryptocurrency raised $30 billion in the first week of its pre-sale, and that it evoked overwhelming response from as many as 127 countries.
But the Opposition lawmakers lashed out against the sale, which, according to them, is simply a symptom of the country's ongoing political crisis.
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