Mt Pelerin has announced the launch of personal crypto IBANs, a new feature designed to transform self-custodial wallets into universal accounts capable of seamless money transfers across both blockchain and traditional banking networks.
The core principle of Bitcoin and cryptocurrencies is self-custody, which means individuals own and control their funds without reliance on third parties who could freeze or seize assets. While this offers financial freedom, it often results in a disconnection from the conventional banking system. Mt Pelerin's new crypto IBAN aims to bridge this gap, making self-custody more practical and integrated into daily life.
With this feature, users can establish a personal euro or Swiss franc IBAN and link it to their crypto wallet. This enables them to receive bank transfers from any source, with funds automatically converted into cryptocurrency within their own wallet. Conversely, users can also send bank transfers to anyone, utilizing the cryptocurrency held in their wallet.
These transactions are presented as standard bank transfers, originating from or directed to an IBAN bearing the user's name, while the underlying crypto settlement occurs discreetly in the background. Mt Pelerin considers this feature a significant achievement, aligning with their mission to promote and simplify self-custody, thereby making it a viable alternative to traditional bank accounts.
By equipping a wallet with its own IBAN, Mt Pelerin asserts that it becomes a robust tool for managing money without third-party custody, while maintaining the ability to transact globally. This development is positioned as a key to unlocking financial freedom by allowing users to opt out of the traditional banking system's custody requirements.
About the Crypto IBAN
- •The EUR and CHF IBANs are based in Switzerland, which is part of the SEPA zone.
- •Both individuals and organizations are eligible to receive an IBAN.
- •Users globally can request an IBAN, with the exception of those from a specified list of excluded countries.
- •The IBAN service is provided free of charge.
- •Conversions between fiat currencies and the ZCHF stablecoin are free of charge.
- •For conversions involving other cryptocurrencies, standard fees apply.
- •The IBAN can be linked to any self-custodial wallet.
- •The IBAN supports transactions with over 30 cryptocurrencies across 15 different blockchain chains.
- •The IBAN is not classified as a bank account and does not require declaration as such.
- •The service is accessible via app.mtpelerin.com and the mobile wallet application.
Contact Information
Yann Gerardi
Head of marketing
yann.gerardi@mtpelerin.com
www.mtpelerin.com