MyEtherWallet will make "going to Fiat" simple, not requiring verification

The developers of the popular wallet MyEtherWallet have announced a new integration with the Bity service, within which MEW V5 customers will be allowed to exchange cryptocurrency for Fiat without the need for verification. The maximum allowable amount for this is up to 5,000 Swiss francs ($ 5,000).

“For the first time, bitcoin and air can be easily exchanged for euros or Swiss francs right inside the wallet,” writes the MEW team on its blog.

It should be noted that the service will be available only to owners of bank accounts with an international bank account number (IBAN).

Bity is a fully regulated and proven brokerage company with headquarters in Switzerland that provides leading crypto-financing services for clients around the world. Bity also manages a network of cryptomattes in five cities in Switzerland.

At the same time, integration with MEW allows customers to enjoy the benefits of the Bity crypto-fiat gateway from any part of the world. The service can offer this type of gateway as Exit-to-Fiat without KYC, since its activity is consistent with the Swiss Money Laundering Act (AMLA).

Using the Exit-to-Fiat feature on MEW

To bring Fiat through Bity, you need to go to the “Exchange” page on the toolbar of the wallet, then choose cryptocurrency, traditional currency and Bity in as a service provider.

Click "continue", enter your phone number and then the confirmation code. After the verification is completed, Bity will request your bank details: your IBAN number, BIC / Swift code and ABA number. Finally, you will be asked to provide the official name on your bank account and your billing address.

The MEW command warns you that it will not store user information. Data will be transferred to Bity only to comply with legal requirements.

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