The government-owned post office in Liechtenstein has initiated a cryptocurrency exchange service, starting off with Bitcoin. Situated in the capital city of Vaduz, the post office plans to add four more cryptocurrencies in due course.
The official announcement was made on Feb. 15, by the Liechtensteinische Post AG that marked the start of BTC selling at the counter of the post office in the capital city of Vaduz. The new exchange of cryptocurrencies in its post offices is a part of the post office’s search for new business opportunities.
After an initial phase, the service will be extended to other post offices and more cryptocurrencies will also be added. As and when these services are activated, the users could exchange bitcoin (BTC), ethereum (ETH), litecoin (LTC), bitcoin cash (BCH) and ripple (XRP).
Furthermore, after a user makes a BTC purchase, they will receive “a physical crypto wallet” including both public and private keys, as stated in the announcement.
Partnership with Värdex Suisse
The post further explains that “nothing is different” when it comes to adding cryptocurrencies into the existing service as the Swiss Post had always been in “the conventional money exchange business.”
The service provided is in collaboration with Zug-based Värdex Suisse. The company describes itself as “Switzerland’s largest, financially regulated blockchain and POS network operator. ” A member of the Financial Services Standards Association (VQF) it is also a part of the Crypto Valley Zug community.
Company’s website further states that “Värdex Suisse is operating the largest crypto ATM network in Switzerland,” listing a total of 26 locations, all of which support BTC, ETH, and LTC. As per the data from Coinatmradar, Switzerland has 48 cryptocurrencies ATMs. 13 machines in Zurich, six in Basel, five in Geneva. Other major ATM operators include Bity, with six locations and Bitc with 14 locations.