As Venezuela's economy regresses, crypto fills the gaps

The new Venezuelan cryptocurrency "Petro" logo is seen at a facility of the Youth and Sports Ministry in Caracas, Venezuela February 23, 2018. REUTERS/Marco Bello/Files

CARACAS (Reuters) - Venezuelan food delivery driver Pablo Toro has no stake in cryptocurrency or blockchain, but indirectly uses digital tokens every time he sends money to his family.

Toro, who emigrated to Colombia in 2019, uses an app called Valiu to receive Colombian pesos from working on Bogota's streets and deposit the corresponding bolivars into a Venezuelan bank account.