UK Post Office to Start Offering Cryptocurrency Purchases to Some Customers Starting Next Week

Eva Fox by Eva Fox September 10, 2021

UK Post Office to Start Offering Cryptocurrency Purchases to Some Customers Starting Next Week

Photo: Tony Smith/Alamy

The UK Post Office will begin offering cryptocurrency purchases to select customers starting next week. Users of the Post Office's EasyID identity verification application will be able to purchase cryptocurrencies using the voucher system from Swarm Markets.

In just a few days, the UK Post Office will start offering users the ability to buy cryptocurrency through EasyID's identity verification service. People who use this app will be able to buy cryptocurrencies on the decentralized exchange (DEX), Swarm Markets. Vouchers can be redeemed for Bitcoin or Ether on the Swarm platform.

In addition to offering users another way to buy cryptocurrency, the integration could attract more people 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 SMT payment token.

Thus, with a few clicks on their phones, customers will be able to purchase cryptocurrencies that can be exchanged for Bitcoin or Ethereum. Co-founder of Swarm Markets, Philipp Pieper, said, "Until now, people have been locked out of DeFi because there hasn’t been a secure, trusted and regulated platform for them to use." "By making it easy and safe to buy real Bitcoin and Ethereum, more people now have the option to get started in crypto and enjoy the benefits of DeFi—and not just those who understand crypto jargon," he added.

A spokesperson for The Post Office said, “access to products and services are increasingly moving online and we've responded to this shift by launching our free to use app, Post Office EasyID, allowing people to build their own secure digital identity on their smartphone and enabling them to easily control and prove who they are to whichever business they want to interact with.”

© 2021, Eva Fox | Tesmanian. All rights reserved.


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Article edited by @SmokeyShorts, you can follow him on Twitter

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