Venezuelan crypto exchange Criptolago has announced that it will launch a text message-based payment system that can process transactions in Venezuela’s oil-backed Petro (PTR) and other cryptocurrencies.
The system may expose new segments of Venezuela’s population to cryptocurrencies amid the country’s ongoing hyperinflation crisis — with the value of the Venezuelan bolivar fluctuating by 1.58% in the past 24 hours and roughly 2,500% in 12 months.