As part of the agreement, the Post Office will begin issuing and selling crypto ‘vouchers’ across its branches nationwide. These vouchers can later be redeemed for either Bitcoin or Ethereum on the Swarm Markets exchange.
As part of this deal, customers must redeem their vouchers by completing KYC using a proprietary identity verification application developed by the Post Office called ‘EasyID’.
According to an official Post Office spokesperson, “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.”
The Post Office is a private entity in the United Kingdom, however, it is owned by the government. It is best known for its ties to the Royal Mail, the country’s postal service (the Royal Mail), and as such, it is best known for its 11,638 nationwide branches which act as an outlet for a wide range of services and products: from post to banking and insurance.