Mt Pelerin Launches the Crypto IBAN: Your Bank Account Just Got a Digital Upgrade
Forget clunky exchanges and wallet addresses. A Swiss fintech just handed your crypto a bank account number.
Mt Pelerin's new 'Crypto IBAN' service does exactly what it says on the tin. It assigns a traditional International Bank Account Number (IBAN) directly to a user's cryptocurrency holdings. The move effectively creates a bridgehead for digital assets within the legacy financial system's own fortress.
The Mechanics: Bypassing the Old Guard
The service isn't magic—it's middleware. It leverages Mt Pelerin's existing banking infrastructure and regulatory approvals to map crypto wallets to compliant fiat rails. Want to receive a euro payment from a traditional business? Give them your Crypto IBAN. The system converts the incoming fiat to your chosen digital asset automatically, sidestepping the need for a separate exchange account entirely.
Why This Cuts Through the Noise
This isn't just a convenience feature; it's a usability nuke. It demolishes a major barrier to crypto adoption for average users and businesses terrified of sending funds to a 42-character alphanumeric string. By speaking the language of global finance (the IBAN), crypto suddenly becomes legible to accountants, payroll systems, and international suppliers. It's a Trojan horse strategy, making digital assets look and feel like... well, just assets.
The Regulatory Tightrope
Pulling this off requires walking a regulatory tightrope with Swiss precision. Mt Pelerin operates under Switzerland's Financial Market Supervisory Authority (FINMA), a regime known for its 'Crypto Valley' pragmatism. The Crypto IBAN service inherently bundles know-your-customer (KYC) and anti-money laundering (AML) checks into every transaction, offering compliance by design—a feature that traditional banks, still nervously dipping toes into crypto custody, will watch closely.
A Provocative Step or a Surrender to Legacy?
The launch prompts a cynical question for crypto purists: Is wrapping revolutionary tech in the packaging of the old system a brilliant onboarding tactic, or does it just reinforce the very infrastructure crypto aimed to disrupt? One banker's 'innovative bridge' is a libertarian's 'capitulation.' Yet, for the mass market, the debate is academic. Functionality wins. If you can pay a supplier in Bitcoin using the same invoice process as a wire transfer, the revolution becomes quiet, seamless, and inevitable.
The bottom line? This turns crypto from a speculative sidebar into a operational main event for businesses. It's a move that doesn't ask the world to adapt to blockchain—it adapts blockchain to the world, one boring, standardized bank number at a time. The legacy system might just have met its most formidable challenger yet: a useful one.
With this new feature, our users can transform their self-custodial wallets into something more: a universal account that seamlessly sends and receives money across both blockchain and traditional banking networks.
A core tenet of Bitcoin and cryptocurrencies is self-custody, the fact of owning and controlling one’s money without any third party that could seize or freeze funds. It means financial freedom, but in practice it often means being disconnected from the rest of the world that uses the traditional banking system.
Thanks to our new crypto IBAN, this now changes and makes self-custody more convenient and integrated into everyday life.
With it, users can create a personalorand attach it to their crypto wallet, which enables them to:
- Receive bank transfers from anyone, directly converted into crypto on their own wallet.
- Send bank transfers to anyone , using crypto from their wallet.
These payments look like any standard bank transfer, sent and received from an IBAN in the user’s name, while the crypto settlement happens seamlessly in the background.
This feature is a milestone for us, as our mission is to promote and simplify self-custody to make it a practical alternative to a traditional bank account.
Today, that vision is now reality. By giving a wallet its own IBAN, it becomes a powerful tool to hold and manage money without any third-party custody, while still being able to make transactions with the rest of the world.
It becomes a tool to opt-out from the custody of the banking system, the key to unlock financial freedom.
- The EUR and CHF IBANs are located in Switzerland (which is in the SEPA zone).
- Both individuals and organizations can receive an IBAN.
- Users from all over the world can request an IBAN, except from our list of excluded countries.
- The IBAN is free.
- Conversions between fiats and the ZCHF stablecoin are free.
- For conversions with other cryptocurrencies, our standard fees apply.
- The IBAN can be linked to any self-custodial wallet.
- The IBAN can be used with 30+ cryptocurrencies on 15 chains.
- The IBAN is not a bank account, it doesn’t have to be declared as such.
- Available on app.mtpelerin.com and on mobile wallet app.
Yann Gerardi
Head of marketing
www.mtpelerin.com
SOURCE Mt Pelerin
