UK Post Office to Offer Crypto Purchases to Some Customers Starting Next Week

Users of the Post Office’s EasyID identity-verification app will be able to buy crypto using a voucher system from Swarm Markets.

Sep 10, 2021 at 10:50 a.m. UTC
Updated Sep 10, 2021 at 7:26 p.m. UTC

Jamie Crawley is a CoinDesk news reporter based in London.

The U.K.’s Post Office will next week start offering users the ability to purchase crypto through its identity-verification service, EasyID.

  • People who use the EasyID app will be able to purchase crypto vouchers from decentralized exchange (DEX) Swarm Markets. The vouchers can be redeemed for bitcoin or ether on Swarm’s platform.
  • EasyID was introduced by the Post Office in August to help users securely verify their age, identity and other important details and gain access to services on other platforms.
  • As well as offering users another route to purchasing crypto, the integration may see more people exposed to decentralized finance (DeFi) through Swarm’s yield farming offering.
  • Swarm Markets users who put their assets into the platform’s liquidity pool are rewarded using its payment token SMT.
  • Claiming to be the world’s first regulated decentralized finance protocol, BaFin-licensed Swarm Markets said in July that it had onboarded $15 million worth of pledged liquidity. BaFin is Germany’s financial supervisory authority.

Read more about
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Jamie Crawley is a CoinDesk news reporter based in London.

CoinDesk - Unknown

Jamie Crawley is a CoinDesk news reporter based in London.

Trending

1
CoinDesk - Unknown
5 Key Takeaways From a16z's State of Crypto Report

The venture firm is extremely bullish on Web 3.

The venture firm is extremely bullish on Web 3.

CoinDesk - Unknown
2
CoinDesk - Unknown
Regulators Are Paying Attention to UST

The collapse of terraUSD (UST) is algorithmic stablecoins’ Libra moment.

The collapse of terraUSD (UST) is algorithmic stablecoins’ Libra moment.

CoinDesk - Unknown
3
CoinDesk - Unknown
San Francisco NFL Player Alex Barrett Taking His Salary in Bitcoin

The most valuable crypto stories for Thursday, May 20, 2022.

The most valuable crypto stories for Thursday, May 20, 2022.

CoinDesk - Unknown
4
CoinDesk - Unknown
Justin Sun Still Thinks Algorithmic Stablecoins Are a Good Idea

The crypto mogul also said LUNA and UST might make good "meme coins," he said on CoinDesk TV’s “First Mover.”

The crypto mogul also said LUNA and UST might make good "meme coins," he said on CoinDesk TV’s “First Mover.”

CoinDesk - Unknown