MyEtherWallet (MEW) which is a wallet provider of Enterprise ($ ETH) can withdraw money from ETH to the legal currency / franc of the euro and Switzerland without needing KYC (identity verification procedure) in cooperation with Bity I realized that the function was implemented.
By implementing this function, it is said that Switzerland will be able to easily exchange and withdraw from Bitcoin ($ BTC), Euro, Franc directly from MEW Wallet. The maximum withdrawal limit is 5000 francs (about 550,000 yen).
Like exchange withdrawal from ETH to euro | From MyEtherWallet Medium
Bity from Switzerland is a company that provides cryptographic currency ATM in five domestic cities, and also has services to pay encryption currency exchange business, utility fee etc. in encryption currency.
According to MEW’s announcement, Bity’s KYC unnecessary Fiat withdrawal service is realized by its company’s Wallet holder verification system and the Swiss money-to-wash (AML) method.
Given that personal information is linked to the bank account of the withdrawal destination, it certainly may not need KYC between Wallet and the bank.
Anyway, being able to seamlessly exchange and withdraw without intervening from exchanges is an important point in spreading cryptographic assets as currency .
Article Source: MyEtherWallet Medium
A writer who wrote this article
Related articles From the same writer
Popular articles of the same category
Author: Yuya 【Coin Desk News】 – Source Post: https://crypto-times.jp/mew-partners-with-bity-to-provide-exit-to-fiat-without-kyc/
Disclaimer: CoinNewsDesk.com is a crypto news portal, financial discussion forum, and content curator / aggregator. Articles on Coin News Desk are provided for informational purposes only. We are not an investment advisor and do not provide financial advice.
It’s also important to it is diligence and analysis, including consulting a professional financial advisor, No content on Coin News Desk makes up a recommendation to enter in any type of investment or to engage in any investment strategy present on this website.