Can I use my ID from my phone?

Excuse me, I have a quick question regarding the use of digital IDs for transactions. I've noticed that many services are now embracing the convenience of mobile IDs. So, my question is, would it be possible to use the ID stored on my smartphone as a valid form of identification for cryptocurrency transactions or financial services? I'm particularly interested in knowing if there are any limitations or specific requirements I need to be aware of when using a digital ID from my phone in this context.