Croatia post office converting cash into crypto

Over one thousand post offices in Croatia have started a pilot to allow customers to convert cash into cryptocurrencies. The Zadar Croatian Post wants to give people the opportunity to switch cash for Bitcoin, Ethereum, Stellar Lumens, EOS and XRP. This was announced earlier this week.

The post offices work in collaboration with Electrocoin, a Croatian crypto company that has been running a cryptocurrency exchange called Bitcoin-mjenjacnica since 2014. Croatia has been quite open to the use of cryptocurrencies, at financial gain from trading is being taxed as personal income. The purchase of crypto is not taxed, only when it’s converted back to fiat.

Even though it’s a nice step for adoption of cryptocurrencies, the move by the Zadar Croatian Post is not unique. Last year The Austrian Post started a program to allow customers to switch fiat for crypto. And Croatia has been known for accepting cryptocurrency payments in physical stores since May, when the Elipay payment system from Eligma was launched.

Originally published at NEDEROB.