Croatian Post, the national postal operator of the Republic of Croatia, declared that a pilot project for its crypto exchange is being held after a final rollout for both domestic and foreign users.
Croatian Post has teamed up with Electrocoin to run a crypto-to-fiat exchange in the city of Zadar. Electrocoin’s main business is to sell and buy cryptocurrencies from both retail and institutional clients and also ease crypto payments for merchants.
The pilot project will allow cryptocurrency owners to convert Bitcoin (BTC), Ether (ETH), Stellar (XLM), XRP and EOS to Croatian national currency, the Kuna (HRK), based on the announcement done by the postal service on July 24.
Croatia is one of the well-known countries in the European Union, which still thinks of cryptocurrency as a legal way to trade.
The exchange pilot is now presently available in three post offices in the coastal town of Zadar, a place popular for tourists. Croatian’s main purpose is to spread the service to the famous cities and tourist centers present in Croatia. As per the report, the crypto-to-fiat service is started on July 15.
Based on the announcement:
“Over the past few years, cryptocurrencies have developed more and more users, and Croatia will, with its network of 1,016 post offices, surely contribute to their popularity. Digitalization is one of the Croatian postal development strategies and a driver of numerous business projects. Entering the digital currency market, Croatia Post confirms its position as one of the leaders in digital transformation.”
Croatian’s crypto exchange and payments company Electrocoin is offering services for the last five years. According to the company’s website, Electrocoin services are accessible all over the European Union.
This is not the first example of a post doing crypto business. Earlier in February 2019, Lichtenstein’s official postal service, Liechtensteinische Post AG, declared its plans to provide crypto exchange services at their physical locations.
Moreover, the Austrian Post introduced a line of blockchain-certified collectible stamps before a month. These stamps are allegedly the only crypto collectible stamps in the world and were made in two collectible parts; one is a functional stamp stylized with the Ethereum unicorn and an authenticator for the stamp containing a QR code.