Having taken an active part in the Ethereum ecosystem and the cryptocurrency space for some years, we believe that mass adoption, market stability and advanced scaling solutions will eventually make it possible to conduct all financial transactions — from paying for the proverbial coffee to buying a home — entirely in crypto.
Until then, the option of a painless exit to fiat currencies will remain a high priority for many crypto users. At the moment, crypto exchanges are the main gatekeepers between crypto and traditional finance, and the quality of user experience on these platforms varies greatly. Sometimes, the number of “hoops” to jump through in order to comply with KYC and AML requirements can frustrate experienced crypto investors and entirely deter the most enthusiastic crypto beginners.
MEW are excited to reveal a new integration with Bity which allows MEW V5 users to exchange crypto to fiat without needing to be KYC verified, up to CHF 5000 (which happens to be approximately equal to USD 5000). For the first time, Bitcoin and Ethereum can be exchanged seamlessly with Euros or Swiss Francs, right inside the wallet.