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 7:26 p.m. UTCUpdated May 11, 2023 at 5:54 p.m. UTC
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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.
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Jamie Crawley is a CoinDesk news reporter based in London.