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.

By Jamie Crawley

Sep 10, 2021 at 8:20 p.m.

Updated Sep 11, 2021 at 4:56 a.m.

U.K. Post box. (Monty Allen/Unsplash)

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: Coinbase Receives Crypto Custody License From German Regulator BaFin

This content is for informational purposes only and should not be construed as investment advice. Nothing mentioned in this article constitutes any type of solicitation, recommendation, offer or endorsement to buy and sell any crypto asset. Trading in any financial market involves risk and can result in loss of funds. Before investing any money, one should always conduct thorough research and seek professional advice.

Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Follow @JamieCrawleyCD on Twitter