The government-owned post office in Liechtenstein has begun offering a exchange service. Initially, the post office in the capital city of Vaduz will sell , with four more planned. The service is in partnership with Zug-based Värdex Suisse, the operator of “the largest crypto ATM network in Switzerland.”
Also read:
Post Office Selling BTC
Liechtensteinische Post AG announced on Feb. 15 that it has begun selling at the counter of the post office in the capital city of Vaduz. “In search of new business opportunities, Liechtensteinische Post AG has decided to offer a new exchange [service] of in its post offices,” Friday’s announcement reads. The Post elaborated:
After an introductory phase, the offer will be extended to other post offices and the exchange of additional … It will then be possible to change (), (ETH), (LTC), cash (BCH) and (XRP).
The announcement further notes that, after making a purchase, will receive “a physical crypto ” which includes both the public and private keys.
Founded in 1999, Liechtensteinische Post AG comprises nine post offices and three postal partners, according to its website. Prior to Dec. 31, 1999, the postal service of Liechtenstein, a country with approximately 38,000 people, was managed by Swiss Post, the national postal service of Switzerland which is a public company owned by the Swiss Confederation. Now Swiss Post owns 25 percent of Liechtensteinische Post and the government of Liechtenstein owns the remaining 75 percent.
Partnership With Värdex Suisse
Liechtensteinische Post explained that Swiss Post had always been in “the conventional money exchange business,” therefore “nothing is different” by adding to the existing service.
This new service is enabled through a partnership with Zug-based Värdex Suisse AG, a subsidiary spun off from Suisse AG at the end of 2017 in order to meet the growing demand for POS solutions, Liechtensteinische Post detailed.
“Värdex is Switzerland’s largest, financially regulated and POS network operator,” the company describes itself. It is a member of the Financial Services Standards Association (VQF) and part of the Crypto Valley Zug community.
Its website also states that “Värdex Suisse is operating the largest crypto ATM network in Switzerland,” listing a total of 26 locations, all of which support , ETH, and LTC. According to Coinatmradar, there are 48 ATMs in Switzerland. Zurich has 13 machines, the most in the country, followed by Basel with six machines and Geneva with five. Other major ATM operators in the country are Bity with six locations and Bitc with 14 locations.
What do you think of Liechtensteinische Post selling at post office counters? Let us know in the comments section below.
Images courtesy of Shutterstock and Liechtensteinische Post.
Need to calculate your holdings? Check our section.
Published at Sat, 16 Feb 2019 02:11:01 +0000
