Petro Pre-Sale Raised $735M, Venezuela Says

Venezuela has reported that the pre-sale of its oil-backed cryptocurrency, the Petro, has attracted $735 million on the first day
21 February 2018   636

Looks like first governmental tokensale is going great. Petro tokensaled raised $735M on the first day of sale. This is reported by News Bitcoin Com.

Petro Pre Sale
Petro Pre Sale

Totally 82.4 million petro tokens are offered for the pre-sale phase, as whitepaper details.

The presale and initial offer will be made in hard currencies and cryptocurrencies, but not bolivars…Our responsibility is to put (the petro) in the best hands and then a secondary market will appear.
 

Carlos Vargas

The Superintendent of Cryptocurrencies

As the Minister for University Education, Science and Technology, Hugbel Roa says the traffic to the petro website “quintupled with the global announcement of the pre-sale of the Venezuelan cryptocurrency,” shortly after midnight local time.

Venezuela had received $735 million in the first day of a pre-sale of the country’s “petro."
 

Nicolas Maduro

Prsident, Venezuela

Interesting information can be found in the Petro buyers manual.

The Blockchain launched by the Venezuelan State has robust security mechanisms since its programming elements are related to a technological platform called: NEM blockchain.
 

Petro Buyer's Manual

Looks like Venezuelian government chose NEM as a basis for it's token instead of popular Ethereum blockchain.

Binance to Partner with Chainalysis for AML

Use of Chainalysis KYT solution will allow to compile with KYC- and AML-norms and also simplify the process of opening bank accounts
18 October 2018   74

The largest exchange by daily trading volume Binance uses software from Chainalysis, called Chainalysis KYT [know your transaction], to monitor real-time transactions and identify transfers related to criminal activity. This is stated in a joint press release.

Cryptocurrency businesses of all sizes face the same core challenge: earning the trust of regulators, financial institutions and users. We expect many to follow Binance's lead to build world-class AML compliance programs to satisfy regulators globally and build trust with major financial institutions.
 

Jonathan Levin

Co-Founder and COO, Chainalysis

Thus, the use of software from Chainalysis not only guarantee compliance with the KYC- and AML-norms, but also simplify the process of opening bank accounts.

By working with Chainalysis, we are able to continue building a foundational compliance program that enables the next phase of our growth. Our vision is to provide the infrastructure for a blockchain ecosystem and increase the freedom of money globally, while adhering to regulatory mandates in the countries we serve.
 

Wei Zhou

CFO, Binance

Chainalysis KYT release was held in April.