Local media in India reported that Caracas offered 30% discount on crude oil imports if they pay in Petro.
In March, a delegation visited India and agreed that Coinsecure will offer the trading of Petro for Bitcoin and rupees.
Mohit Kalra, the CEO of Coinsecure, told Business Standard, “That would be run by their brand name, but the back-end will be us. We plan to provide them with 10-15 cryptocurrency players.”
Venezuela saw different reactions to the notion about Petro being oil-pegged thus resulting to controversy.
Russia was also involved in a separate claim which for some is an instrumental in facilitating Petro’s creation.
“They are going to different countries and making offers. The offer that they have given to the Indian government is: you buy Petro and we will give you a 30 percent discount on oil purchases.” Kalra explained.
On the other hand, Coinsecure feels the pressure after a hack amounting to $3.5 million last month.