Starting off with Bitcoin, the government-owned post office in Liechtenstein has embarked on a cryptocurrency and digital asset exchange service. The post office is situated in the capital city of Vaduz. Interestingly, it plans to add 4 more cryptocurrencies and digital assets in due course. It is to be noted that the Principality of Liechtenstein is a small country located between Switzerland and Austria.
The Liechtensteinische Post AG made the official announcement on Feb. 15. Interestingly, the announcement marked the start of Bitcoin (BTC) selling at the counter of the post office in the capital city of Vaduz. For the most part, the newly established crypto exchange in the post offices is a part of the post office’s search for new business opportunities.
The service will be extended to other post offices, after an initial phase. Furthermore, other cryptocurrencies might also be added. The users may possibly exchange Litecoin (LTC), Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Bitcoin Cash (BCH) as and when these exchange services are activated.
Additionally, after a user makes a Bitcoin (BTC) purchase, they will be given a physical cryptocurrency wallet, including both private and public keys, as stated in the announcement.
Partnership With Värdex Suisse, a Part of the Crypto Valley Zug Community
Additionally, the post mentions that nothing is different when it comes to adding cryptocurrencies and digital assets into the existing service as the Swiss Post had always been in “the conventional money exchange business.”
It is to be noted that the aforementioned service is provided in collaboration with Zug-based Värdex Suisse. Värdex Suisse is a company that describes itself as Switzerland’s biggest, financially regulated POS network and blockchain operator. Outstandingly, it is a member of the Financial Services Standards Association (VQF). Moreover, it is also a part of the Crypto Valley Zug community.
The website of the company further states that Värdex Suisse is operating the biggest cryptocurrency ATM network in Switzerland, listing a total of twenty-six locations, all of which support BTC, LTC, and ETH. It is worth noting that, as per data obtained from coinatmradar, Switzerland has forty-eight cryptocurrency ATMs. Thirteen machines in Zurich, five in Geneva, and six in Basel. Other major ATM operators include Bity, with 6 locations and Bitc with fourteen locations.