The national post service of the small European country of Liechtenstein has confirmed it will now offer Bitcoin (BTC) sales as part of its...
The national post service of the small European country of Liechtenstein has confirmed it will now offer Bitcoin (BTC) sales as part of its product range.
Liechtenstein Post: Bitcoin Exchange ‘No Different From Fiat’
In a press release, Liechtensteinische Post confirmed that as of February 15, anyone could exchange fiat currency for Bitcoin at its branch in the capital Vaduz.
Part of a quest to expand the Post’s business scope, cryptocurrency sales follow on from the extant fiat exchange service currently available in branches across the country.
The integration was made possible via a partnership with Vaerdex Suisse, a cryptocurrency ATM and Point of Sale payment processor from neighboring Switzerland’s Crypto Valley community.
“In essence, nothing is any different from the standard currency exchange procedures already part of the Post’s offerings,” the release explained.
Together with Vaerdex Suisse we were able to find a competent partner to build out the business model.
Crypto Valley Extends Impact
It remains unclear how much customers will be able to purchase, and what kind of “physical” Bitcoin wallet first-time buyers will receive.
In future, the Post says it wants to roll out the scheme across Liechtenstein, adding altcoins in addition to Bitcoin: Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC) and Ripple (XRP).
Like Switzerland, the country has previously shown a forward-thinking attitude to cryptocurrency adoption. Last year, even its banking sector came on board, with Bank Frick offering cryptocurrency purchases and cold storage facilities.
Prior to that, the Crown Prince of Liechtenstein publicly expressed interest in investing in the industry.
The Post’s move marks the latest expansion success for Crypto Valley, the increasingly large community centered in the Swiss town of Zug. Last month saw Bitcoin ATM manufacturer Lamassu relocate to the town, a decision which echoed that of wallet and storage provider Xapo, which completed a convoluted hop from the US in 2017.
What do you think about Liechtensteinische Post offering Bitcoin? Let us know in the comments below!
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