Customers using The Post Office’s EasyID App will be able buy cryptocurrency such as Bitcoin starting next week.
While the mobile app helps users securely verify their identity and age in order to gain online services, it can also be used to make payments on Swarm Markets (a decentralised cryptocurrency exchange).
Customers will be able purchase crypto vouchers with just a few clicks from their smartphones, which can be used to buy Bitcoin and Ethereum.
Philipp Pieper, co-founder of Swarm Marketplaces, stated that until now people were locked out of DeFi due to the lack of a trusted, secure and regulated platform.
He said that by making it simple and secure to buy Ethereum and Bitcoin real Bitcoin, more people have the opportunity to get into crypto and reap the benefits of DeFi. This is not limited to those who are fluent in crypto jargon.
A spokesperson for The Post Office stated that “access to products, services, and information are increasingly moving online.” The app, Post Office EasyID, is free and allows users to create their own digital identity using their smartphone. This will allow them to control and prove their identity to any business they choose.
This news comes just days after cryptocurrencies made a huge step towards mass adoption when El Salvador legalized Bitcoin on Tuesday.
This was due to Bitcoin’s volatile price movements. The currency lost 50% between April and May.
Swarm Markets claims it is the first decentralized finance protocol that has been regulated in the world and has been licensed to BaFin, Germany’s financial watchdog. Swarm Coin, the native token of the exchange, has seen a 4.25 percent increase in price over the last 24 hours.