Croatia launches the world's first cryptocurrency ATM

Croatia, located in Central Europe on the Balkan Peninsula, is set to launch a cryptocurrency payment terminal that is fully legal and compliant with the country's regulations.

World's First Cryptocurrency Point of Sale Terminal Launched

According to a report, the world's first payment solution was spearheaded by financial expert and CEO of the trading platform Fima Plus in Croatia, Milan Horvat, in collaboration with software developer Neoinfo based in Zagreb.

Following the successful launch of the mobile payment solution Fima Pay, the two companies decided to expand their partnership by jointly developing a new project, the point of sale terminal Adeo POS.

Neoinfo executive Igor Vuukmirović stated:

The Adeo POS system has been used by over 1,700 users. However, not all users have utilized the service, as crypto payments require user consent before execution.

The system supports payments through Adeo POS in Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. Cryptocurrency payments are facilitated through Norwegian payment provider Auka, with businesses accepting cryptocurrency payments through Adeo POS having the equivalent in Croatia's legal tender, kunas, deposited into their accounts.

Horvat pointed out:

The plan is to expand crypto payments to all companies that recognize the importance of cryptocurrencies and enable them to accept payments in cryptocurrencies, including companies registered and operating in Croatia.

Zagreb Actively Developing Blockchain Technology

In recent months, Croatian authorities have been seeking to adopt blockchain technology and integrate it into the country's daily operations, including securing sensitive documents and monitoring local business processes.

Adeo POS is one of the first products to enter the market after significant investments in blockchain products in Croatia, particularly targeting the capital region of Zagreb.

Many companies, including one of the Big Four accounting firms, Deloitte, and local software developer Omega Software, have proposed solutions based on Distributed Ledger Technology (DLT) to Zagreb authorities to handle government agency processes.

Zagreb Deputy Mayor Olivera Majic emphasized that creating a functional blockchain system for the capital is a top priority, stating:

This is part of a broader transformation of municipal business processes, which is performing very well at this stage.

Related Reading

• IBM's Blockchain-Related Patents Grow by 300% This Year
• Warner Music Collaborates with CryptoKitties Developer to Build Blockchain Platform "Flow"

Join now to get the most comprehensive fintech information, blockchain insights, and industry examples!