The Crypto Times
Image default
Government News

Croatian Post and Electrocoin Conducts Test for Crypto to Fiat Exchange Program

The Croatian Post is collaborating with Electrocoin for a trial run of a crypto-to-fiat exchange pilot program. Croatia’s postal service recently announced this new service will be conducted in the city of Zadar. 

The pilot program will allegedly make it possible for cryptocurrency holders to exchange Bitcoin (BTC), EOS, Ether (ETH), Stellar (XLM), and XRP to cash in any of the Croatian Post’s local branches. 

Gauging Consumer Interest

The service was rolled out in July 15 and is now available at three postal offices in the city. The location was chosen as a way to gauge consumer interest in the program. 

The crypto-to-fiat program’s ultimate objective is to offer the service in the country’s tourist centers and main cities. 

The Post’s announcement also revealed that Electrocoin has been managing a Bitcoin brokerage for the past five years and its services are available in different countries of the European Union. 

Latest Postal Service to Adapt Blockchain

The Croatian Post is just the latest postal service to look into how it can adapt blockchain technology and cryptocurrency. Back in February, Lichtenstein’s postal service, the Liechtensteinische Post AG, revealed its intentions to offer crypto exchange services at their branches. The program has been called a success this month by Gustav Gstoehl, the regional director of the country’s postal offices. 

Because of its successful run, the Liechtensteinische Post is set to develop the service further. It will be increasing its exchange limit from 1,000 Swiss francs to 20,000 francs per day. That converts to $1,009 and $20,189 respectively. The service will be offered in more branches.

Related posts

Bitcoin to surpass $100,000 by February 2021 According to Moore’s Law

Miles

Coinbase Wallet Users Can Now Use WalletLink to Access DApps on Desktop

Viena Abdon

New Jersey Files Complaint versus Blockchain Company for Selling Unregistered Securities

Viena Abdon

Indian Technology Giant Tech Mahindra Plans to Battle Spam Calls Using Blockchain

Sierra Sanders

Microsoft and Accenture Develope Blockchain Identification System for Refugees

Hootie

Czech Republic, Italy and Sweden to Share Europe’s Blockchain Leadership

Viena Abdon