Croation Postal Corporation Pilots Crypto-to-Fiat Conversion Services
Croatian crypto holders wishing to swap their BTC, ETH or XRP coins for the local currency now have no reason to worry, thanks to Hrvatska Pošta. The state-run postal corporation announced this on Thursday, saying they are piloting crypto exchange service for the country’s cryptocurrency community.
The pilot service is happening in three post offices in Zadar, a coastal city, and permits holders of Bitcoin, Ethereum, Stellar, Ripple and EOS to convert them to Kuna, a local fiat. The whole process is short and straightforward as users only have to fill an application and scan a special QR code.
The service is a collaboration with Electrocoin and takes place in the city of Zadar. Already, the service has started having been rolled on July 15, even though the official announcement was made on July 24.
According to Hrvatska Pošta, the decision to pilot the service was informed by the need to gauge the market’s interest in crypto-to-fiat conversion service. Ultimately though, the Croatian Post expects to roll over the service to other cities across the country, including the popular tourist hubs.
Throughout this whole endeavor, however, it will be heavily dependent upon the experience of Electrocoin, which has reportedly been running crypto brokerage services for five years now. Electrocoin’s website claims to be offering its services across the European Union.
Croatia Eager to Embrace Crypto Even Further
While the decision clearly underscores that the country is open to the cryptocurrency revolution, it also explains the needs of a growing crypto community in the Southeastern European country.
The surge in Bitcoin and digital asset enthusiasts coupled with this new service is expected to force the Croatian Post to use its entire network of 1,016 postal offices.
Other European Countries Launch Theirs
Croatia, meanwhile, isn’t the only European country eager to be part of the rapid cryptocurrency revolution. Liechtensteinische Post AG, Lichtenstein’s equivalent of Hrvatska Pošta, announced plans to launch a similar service in February.
Yet, just recently, Gustav Gstoehl, the regional director of Lichtenstein’s official postal service said theirs has registered immense success. He said that they would expand the services further by increasing user’s daily limit by 20 times from 1000 Francs to 20,000 Francs.
Cointelegraph had earlier reported that the Austrian Post had embarked on releasing an array of Blockchain-based collectible stamps from June. The special stamps, the first of their kind across the planet, were reportedly launched in two parts: normal stamps, but inscribed with an Ethereum unicorn, and a special authenticator to be scanned using QR code.