Croatia Post, the largest postal provider in the Republic of Croatia, has recorded high trade volumes on its cryptocurrency exchange after two months of launch. Specifically, local users have shown a higher preference for Bitcoin, Ether, and XRP. These assets mentioned are exchangeable for the country’s local currency, the Croatian Kuna (HRK) in 55 post office branches in the country. Bitcoin news made this known on February 5, 2020.
Croatia Post Cryptocurrency Exchange Records High Trade Volume
Per the report, Croatia Post’s cryptocurrency exchange service has recorded high trade volumes. The digital currency exchange whose pilot took place in early December saw an influx of tourists and local residents. Also, Bitcoin (BTC), Ether (ETH), and XRP are the major cryptocurrencies traded there. And each of these can be exchanged for Croatia’s national currency, Croatian kuna (HRK).
Besides BTC, ETH, and XRP, other cryptocurrencies that are supported on the exchange are EOS and Stellar (XLM). Nonetheless, the last two assets are not so popular. Hence, the most preferred ones are BTC, ETH, and XRP. There are expectations that an option to buy the other assets will be available soon.
Tourists Had Been the Highest Users of the Service
Tourists are the highest users of the service during its pilot in Zadar, a tourist city early December. However, when the service spread to 55 post office branches accross the nation, there was an influx of local customers as well.
“During the pilot that was done in a tourist centre Zadar [the service] was mostly used by foreigners, but since the state-wide launch in December it became more and more popular with locals,” Croatia Post said.
Increase in the Number of Cryptocurrencies Users
Back in December during the platform’s initial launch, Croatia Post had noted that there has been an increase in cryptocurrency users. Also, these users often travel to places where they can convert virtual assets to the country’s fiat. As such, it brought about a need to provide an easy way for digital currencies exchangeable for the Croatian kuna.
Croatia, on the other hand, has been one of the early adopters of cryptocurrencies. Several retail stores in the country have integrated crypto-centric payments applications to enable customers to exchange their assets for goods and services. In September 2019, plans were made to launch the country’s first cryptocurrency POS product to handle crypto payments.