Ethereum interface tool MEW (MyEtherWallet) and Swiss crypto-asset services provider Bity today launched a new cryptocurrency “exit-to-fiat” gateway without the need for users to go through KYC verification up to CHF 5000 (approx USD 5000).
This is the first time that bitcoin or ether can be seamlessly exchanged with euros or Swiss francs. Bity also has a wide network of cryptocurrency ATMs across Switzerland, located in Zurich, Zug, Winterthur, Basel, and Lausanne with more locations and additional token support coming soon.
Bity is able to offer this KYC-less exit-to-fiat gateway because it is compliant with the Swiss Anti Money Laundering Ordinance (AMLA). Bity is a regulated and audited financial intermediary within Switzerland.
“MEW is the clear market leader when it comes to user-friendly wallet interfaces and the successful launch of V5 provided us with the perfect runway to bring this exit-to-fiat gateway to market. Our technology, which helps to verify the proof of wallet-ownership, will finally open doors for users to access a cryptocurrency exchange service that is KYC-less, yet regulatory compliant.”
“This exit-to-fiat gateway is a gamechanger for cryptocurrency users around the world, because it allows people to exchange crypto to fiat without needing to be KYC verified. Until now, crypto exchanges have been the main gatekeepers between the crypto and traditional financial world, so we’re excited to shake this up with Bity’s integration on MEW V5.”
This announcement follows the launch of MEW V5 – a complete redesign of MEW’s open-source platform, reinventing the user interface to be a more intuitive portal for both Ethereum beginners and natives.
V5 also includes a new exchange feature powered by Changelly which operates alongside the Bity and Kyber Network swap functions. The new swap page is a crypto marketplace where MEW users can not only seamlessly exchange a range of cryptocurrencies, but also shop for the best rates when purchasing them.