Croatian Post Rolls Out a Pilot Program for a Crypto-to-Fiat Exchange




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Croatian Post launches crypto exchange pilot

The Croatian Post has joined hands with Electrocoin in a crypto deal. Through this deal, the two parties have launched a pilot program for a crypto-to-fiat exchange in the city of Zadar. The postal service made this announcement on July 24. Allegedly, the pilot program would let crypto adopters change BTC, ETH, XLM, XRP, and EOS for fiats in one of the Croatian Post’s local offices.

According to the announcement, the pilot is available at three post offices in Zadar at the moment. This launch aims to measure market interest in the service. In the long run, the Croatian Post aims to introduce this service to major cities and tourist centers across the country. The announcement also unveiled that this service has been running for more than 10 days now.

The Croatian Post has a network of 1,016 offices and it seeks to increase the popularity of crypto through them.

In the announcement, the agency noted,

Digitalization is one of the Croatian postal development strategies and a driver of numerous business projects. Entering the Digital Currency Market Croatian Post confirms its position as one of the leaders in digital transformation.

Reportedly, Electrocoin has been running its bitcoin brokerage service for more than five years. According to the company’s website, its services cut across retail and institutional clients in the European Union.

Crypto and Blockchain Adoption in the Postal Industry

Before Croatia’s move to introduce the nascent sector into its postal industry, Liechtenstein made a similar step. In February this year, the country’s official postal service unveiled plans to offer crypto exchange services at its physical offices.

Through this service, the agency allowed its clients to change fiat currencies into BTC at one of its offices in Vaduz. After buying the BTC, the customers would get a physical BTC wallet that generates public and private keys.

In addition to this, Liechtensteinische Post AG added that it aims to extend these services to other offices across the country. Also, it revealed that it had plans to add support for other leading crypto coins such as ETH, LTC, BCH, and XRP. 

Earlier this month, Gustav Gstoehl, the regional director of Liechtenstein’s postal services noted that this project had been a success.

He noted,

From February until Mai, the revenue has met our expectations.

He added that the growth of the service increased rapidly in June. According to him, bitcoin’s (BTC) surge triggered this growth.

This news comes after the Austrian Post rolled out a line of blockchain-verified collectible stamps in June. According to the entity, these stamps are the first crypto collectible stamps in the world. It issued them with two accompanying parts. These were a functional stamp designed with the Ethereum unicorn, and an authenticator containing a QR code.

Do you think integrating crypto and blockchain technology will help popularize the sectors among baby boomers and Generation X members? Let us know in the comments section below.