Cryptocurrency usage in Switzerland is gaining traction as local financial regulators award more regulatory permissions for crypto investment tools. Switzerland’s national postal office is making an attempt to bridge the gap between the digital crypto market and real stamps by creating tradable digital stamps.
On September 20, the Swiss Post announced the imminent release of the “Swiss crypto stamp,” tied to a real stamp worth 8.9 francs (9.5 USD), a digital collectible, produced by the postal service.
The Swiss crypto stamp would be a digital replica of a physical stamp that is stored on a blockchain. Buyers will be able to find a digital twin of their physical stamp online through a QR code, placed next to the physical stamp.
The Swiss crypto stamp will be available late in November, with 175,000 stamps available at selected Swiss Post outlets on November the 25th. This Swiss crypto stamp, according to the statement, will be the first of its kind to be released in Switzerland.
Switzerland is not the first jurisdiction to use blockchain technology to create digital stamp collectibles. Austria’s postal office revealed intentions to use NFC chips in its Crypto Stamp 3.0, the third generation of its limited-edition NFT postage stamp collector series, in May 2021. In 2019, Austria issued its first crypto stamp.
The picture of these crypto stamps would be one of the 13 designed variables and can be collected, sold, and traded online, according to the Swiss Post. The next Swiss crypto stamp will ostensibly deliver an experience akin to non-fungible tokens (NFT) because some of the stamps would have a unique design.
You Must Read: Frank McCourt to spend $100M to shape Social Media Future using Blockchain