In a recently released press release, Hrvatska Posta informed that they are now allowing individuals to exchange cryptocurrencies for cash in just a few minutes. At the moment, the service is available in 1016 post offices in the country. According to the announcement, digitalization is one of the most important development strategies related to Hrvatska Posta.
1016 Post Offices Exchange Cryptocurrencies for Cash
As cryptocurrencies continue expanding around the world, companies and firms start developing different projects that would allow these digital assets to reach new individuals and use cases. With this announcement made by the official post office agency of Croatia, we see that infrastructure is being built around virtual currencies.
In order to conduct this pilot, the post office is working side by side with Electrocoin, a company located in Croatia that operates the local crypto exchange Bitcoin-mjenjacnica since 2014. With this new service, users will be able to exchange Bitcoin (BTC), Ethereum (ETH), Stellar (XLM), XRP and EOS for cash at any of these post offices.
In order to use these services, individuals have to complete a form, send the virtual currencies and receive the cash at any of these points. The report also mentions that they want to offer tourists the possibility to exchange their virtual currencies in many of the most important cities in the country.
The maximum amount they can exchange is 75,000 Croatian Kuna, close to €10,140. This is a good way to exchange crypto funds for cash without having to rely on other cryptocurrency exchanges. The user will only need a cryptocurrency wallet with funds inside and a document that would show the ID of the individual.
There are many post offices around the world that are starting to deal in virtual currencies. Just to mention one, Austrian Post launched a new program with the cryptocurrency exchange BitPanda that allows customers to purchase different digital currencies, including Bitcoin, Ethereum, Litecoin (LTC), IOTA (MIOTA), Dash, Komodo and Bitcoin Cash (BCH) in 400 different post offices in the country.
Earlier in 2019, the post office company in Liechtenstein started offering a cryptocurrency exchange service for users. The post office in the capital city of Vaduz is now selling Bitcoin and they wanted to add more cryptocurrencies in the future. The firm is working with the operator of the largest crypto ATM network in Switzerland, Värdex Suisse.
In this way, there are many countries entering the crypto market and allowing users to have a bridge between the crypto and traditional financial markets.
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