The national postal operator of the Republic of Croatia, Croatian Post (Hrvatska Pošta) announced Thursday that it is conducting a pilot project for its cryptocurrency exchange before a final rollout for both domestic and foreign users.
The postal operator, through its network of more than 1,000 post offices, is looking to benefit from the rapidly growing popularity of cryptocurrencies by joining the digital currency exchange business.
According to the announcement from the company, the crypto-to-fiat trial is currently available in three of its offices in the coastal city of Zadar.
The pilot project, which started on July 15th, covers five of the most popular cryptocurrencies -Bitcoin (BTC), Ether (ETH), Ripple (XRP), Stellar (XLM), and EOS. Holders can also convert these coins to fiat in one of the three offices in Zadar.
This development is possible through a partnership with local crypto brokerage and crypto-payment processor, Electrocoin.
For more than five years now, Electrocoin has been providing a platform where both retail and institutional clients can buy and sell cryptocurrencies. The company also facilitates crypto payments for merchants.
Upon a successful trial, Croatian Post hopes to expand its crypto exchange across major cities and tourism centers in the country.
Speaking on the benefits of decentralization, 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.