Swiss fintech company Mt Pelerin has launched a cryptocurrency IBAN service that supports interoperability between self-custody wallets and traditional banking systems

According to PRNewswire, Swiss fintech company Mt Pelerin has announced the launch of a personal cryptocurrency IBAN service. This service allows users to convert self-custody wallets into universal accounts, enabling seamless fund transfers between blockchain and traditional banking networks.

Users can create personal IBANs in euros or Swiss francs linked to their crypto wallets, supporting the receipt of bank transfers that are directly converted into cryptocurrency deposited into the wallet, as well as sending bank transfers to anyone using the cryptocurrency in their wallet. These payments appear identical to standard bank transfers, while cryptocurrency settlements occur seamlessly in the background. The service is open to users worldwide (except for a list of excluded countries), with IBANs provided free of charge, free conversion between fiat currency and ZCHF stablecoin, and standard rates applied for conversions of other cryptocurrencies. The service supports over 30 cryptocurrencies across 15 chains.