The government-owned post office in Liechtenstein has begun offering a cryptocurrency exchange service. Initially, the post office in the capital city of Vaduz will sell BTC, with four more cryptocurrencies planned. The service is in partnership with Zug-based Värdex Suisse, the operator of “the largest crypto ATM network in Switzerland.”
The Liechtensteinische Post AG office in Vaduz ― the capital of Liechtenstein ― launched the crypto exchange service on February 15.After an introductory phase, customers will be able to exchange fiat money into other cryptocurrencies, including Ethereum, Litecoin, Bitcoin Cash, and Ripple.
Liechtenstein (population: 37,800) is among the most crypto-friendly nations in the world. In June 2018, Liechtenstein introduced the Blockchain Act.
The purpose of the Blockchain Act is to make the 25-kilometer principality a crypto hub for institutional investors. In Liechtenstein, a blockchain business can set itself up without opening a bank account. Moreover, the country’s leading financial institution, Bank Frick, accepts crypto directly.
In February 2018, Crown Prince Alois told CNBC that he believes that investing in bitcoin will help his family restore their wealth. He’s also exploring using blockchain to manage the day-to-day administration of the monarchy.
In Europe, Asia, and the United States, there is a crypto war brewing over dominance of the emerging digital economy.In December 2018, two members of the French Parliament urged the government to invest up to 500 million euros in blockchain programs to elevate France as a “blockchain nation.”
Liechtensteinische Post explained that Swiss Post had always been in “the conventional money exchange business,” therefore “nothing is different” by adding cryptocurrencies to the existing service.
This new service is enabled through a partnership with Zug-based Värdex Suisse AG, a subsidiary spun off from Bitcoin 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 blockchain 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 BTC, ETH, and LTC. According to Coinatmradar, there are 48 cryptocurrency 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.
Liechtensteinische Post explained that Swiss Post had always been in “the conventional money exchange business,” therefore “nothing is different” by adding cryptocurrencies to the existing service.
This new service is enabled through a partnership with Zug-based Värdex Suisse AG, a subsidiary spun off from Bitcoin 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 blockchain 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 BTC, ETH, and LTC. According to Coinatmradar, there are 48 cryptocurrency 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.
