Hrvatska Pošta, the national postal operator of the Republic of Croatia announced on Thursday that a pilot project for its own cryptocurrency exchange is being conducted to be followed by a final rollout for both domestic and foreign users. The project allows users to convert cryptos into the Croatian national currency, the kuna (HRK).
According to the announcement, the crypto-to-fiat trial is currently available in three of its offices in the coastal city of Zadar.
Hrvatska Pošta said that the trial run will allow it to gauge the market interest for such a service. Once the trial is successful, the postal service wishes to expand its crypto exchange across major cities and tourism centres in the country through its network of 1016 postal offices.
The exchange process is not as time-consuming as one may think. Users have to fill an application and scan a QR code. Then, they can raise their cash in the post office.
The five most popular cryptocurrencies, Bitcoin (BTC), Ether (ETH), Ripple (XRP), Stellar (XLM), and EOS are being covered in the pilot run. This development has been made possible because of a collaboration with local crypto brokerage and crypto-payment processor, Electrocoin. Founded in 2014, Electrocoin has been providing a platform where both retail and institutional clients can carry out digital transactions. The company also facilitates crypto payments for merchants.
A statement from the company noted that,
“Digitalisation is one of Croatian Post’s development strategies and a driver of numerous business projects. With its entry on the digital currencies market, Croatian Post proves its position as one of the digital transformation leaders.”
This move will not only benefit the companies involved but will also help to spread the wide adoption of digital currencies in Croatia and across the globe.