Mt Pelerin has launched Bridge Wallet, a mobile app that allows users to buy and sell cryptocurrencies straight from their bank account at the actual market rates, with no other costs.
Bridge Wallet offers the market prices of centralized trading platforms while preserving full control and ownership of customers’ crypto holdings.
Bridge Wallet also integrates multiple decentralized exchange tools like Uniswap, giving access to thousands of cryptoassets.
The Geneva-headquartered fintech firm is addressing the growing demand for Bitcoin and cryptocurrencies and the current challenges in this emerging space as the majority of available services are difficult to use and not always transparent on their actual costs, hidden fees, and unfavorable exchange rates.
Crypto deposits on customer wallets require no other operation and can be converted back in 28 currencies and withdrawn on a bank account around the world. Mt Pelerin expects to add instant card purchases and withdrawals to its offering soon.
Arnaud Salomon, founder and CEO of Mt Pelerin, commented: “As its name suggests, the purpose of our app is to bridge your bank account with the crypto world in the easiest way. With the real market prices and the self-sovereignty features of cryptocurrencies, you get the best of both worlds from your phone”.
Free crypto-fiat transactions are available for all users up to $500 per year, with a degressive margin of 1.3% above. That limit can be raised up to $50,000 per year for holders of MPS tokens, the tokenized shares of Mt Pelerin available in P2P exchange on Bridge Wallet.
“Instead of offering the typical premium plan, we give an incentive to discover the revolution of tokenized assets. With an MPS token, you own an actual share of our company with full voting and dividend rights, which are exercised in Bridge Wallet. The users own the product, it’s a powerful example of financial democratization”, Salomon added.
Mt Pelerin raised more than $2 million in 2018 via equity crowdfunding and was claims to be the first one to offer a tokenized share with full voting and dividend rights to the public.
The firm is currently working on the creation of a tokenized full-reserve financial institution in Switzerland.