Liechtenstein’s Official Postal Service Adopts Over-the-Counter Crypto Exchange Starting with Bitcoin

Time has shown over and again that there is no limit to the application of cryptocurrencies and its underlying technology, blockchain. The technology which was ridiculed from its inception is gaining more and more traction with each day that goes by. It has revolutionized the way transactions are being done in virtually every sector of the economy.

Liechtenstein’s official postal service, Liechtensteinische Post AG, took it a step higher as it incorporated this technology into its everyday exchange. As a new business opportunity, the Liechtensteinische Post AG – which comprises of nine postal offices – announced a few days ago that interested customers can now exchange Bitcoin at its counters.

According to the official announcement, Liechtensteinische Post AG will further expand this innovative idea to embrace more cryptocurrencies such as Ripple (XRP), Ethereum, (ETH), Bitcoin Cash (BCH), and Litecoin (LTC). This idea is also proposed to spread from Liechtensteinische Post AG to other commercial post offices. The official release explained that this is nothing different from the usual exchange of conventional money. Acceptance of cryptocurrencies at Liechtensteinische Post AG’s counter is made possible by a blockchain-oriented company called Vardex Suisse AG.

The Zug-based Vardex Suisse AG is the spin-off of Bitcoin Suisse AG as a measure to meet the overwhelming demand for POS solutions in Switzerland. Vardex Suisse has since then been focused on the development and operation of Enterprise POS solutions for its customers. Besides being part of the Crypto Valley Zug Community, Vardex Suisse is also a member of the Association for Quality Assurance of Financial Services (VQF). It prides itself as the largest cryptocurrency payment service provider in Switzerland; furthermore, the company is dedicated to providing secure and convenient transactions to its customers.

Together with Vardex Suisse, Liechtensteinische Post AG has decided to explore the astounding benefits of blockchain technology relative to cryptocurrency exchange. Upon transacting through cryptocurrencies at Liechtensteinische Post AG, interested customers are provided with a crypto wallet which contains both the public and private keys. Customers will be able to activate the crytobox in the network using both the private and public keys.

Well, this is no surprise as the Swiss arm of the Liechtensteinische Post AG has always been known to have an eye for emerging technologies. We look forward to having other cryptocurrencies as proposed on the official release.