According to the latest report from CoinDesk, the UK Post will allow crypto purchases through the identity verification service EasyID from next week. EasyID users can buy crypto coupons from the decentralized exchange (DEX) Swarm Markets. The vouchers can also be reclaimed for Bitcoin or Ether on the Swarm Markets platform.
EasyID was originally introduced to facilitate access to services on other platforms through protected identity verification systems. Post Office’s collaboration with EasyID has also paved the way for decentralized financing (Defi) through Swarm’s offering for high-yield farming. Swarm Markets investors are rewarded with the payment token SMT from Swarm Markets when they deposit their assets into the platform’s liquidity pool.
“BaFin-licensed Swarm Markets claims to be the world’s first regulated decentralized financial protocol and said in July it had acquired $ 15 million in pledged liquidity. BaFin is the German financial supervisory authority, ”says the Coindesk report.
Bitcoin adoption in the middle of the bear run
In the midst of Bitcoin’s monthly bear races, government and institutional adoption is strong. Bitcoin price fell below $ 45,000 earlier this morning, hitting its new weekly lows. At the time of reporting, BTC is trading 2.23% lower at $ 45,213 and a market cap of $ 851 billion, according to coinmarketcap. Recent CoinGape coverage has shown that, according to Bitcoin’s technical charts, investors may need to prepare for some volatility in September.
Bitcoin’s volatility, however, has not shaken investor confidence in crypto. Yesterday, Blackrock CEO Rick Rieder stated in his recent interview with SquawkBox that the reason he owns Bitcoin is because he believes that volatile assets have positive convexity. Additionally, he forecast the current drop in BTC prices as a temporary short position and expects prices to rise significantly in the foreseeable future.
“Part of the reason I own a little bit of bitcoin is because I believe that over time there will be more people who will get into this battle … I like volatile assets that are upwardly convex. I could see Bitcoin going up significantly, “Reider said.
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The content presented may contain the author’s personal opinion and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication assumes no responsibility for your personal financial loss.
About the author
Journalism & Mass Comm. Palak is a ’21 graduate GenZ journalist with a background in lifestyle journalism and PR. At CoinGape, Palak is a junior crypto journalist preparing for Web 3.0