GENEVA — Mt Pelerin announced the launch of its crypto IBAN, turning any self-custodial wallet into a universal account that can send and receive money via both blockchain and traditional bank networks. The feature bridges the gap between crypto self-custody and everyday financial transactions.
How the Crypto IBAN Works
Users can generate a personal or corporate IBAN and attach it to their existing self-custodial wallet. Incoming bank transfers are automatically converted into crypto (e.g., ZCHF stablecoin or other supported assets) and deposited directly into the wallet. Outgoing payments are settled in fiat by converting crypto from the wallet. To the outside world, each transaction appears as a standard bank transfer from the user's own IBAN, while the crypto settlement happens seamlessly in the background.
This design addresses a long-standing limitation of self-custody: total control over funds, but near-total isolation from the traditional payment system. Mt Pelerin pitches the feature as “financial freedom without the disconnect.”
Cost, Coverage, and Availability
The IBAN itself is free to create. Conversions between fiat currencies (EUR and CHF) and the ZCHF stablecoin carry zero fees; conversions involving other cryptocurrencies follow standard Mt Pelerin rates. The IBAN supports over 30 cryptocurrencies across 15 blockchain networks, including Ethereum, Polygon, and others.
The IBAN is issued in Switzerland, which sits inside the SEPA zone, enabling seamless euro transfers at no extra cost. Both individuals and legal entities can apply. Users from most countries worldwide are eligible, except those on a restricted list. Importantly, the IBAN is not a bank account and does not need to be declared as one, yet it can be used for salary deposits, bill payments, and other standard banking tasks.
How to Get Started
Users can create and link an IBAN via the Mt Pelerin web app (app.mtpelerin.com) or its mobile wallet app. The company does not hold users' private keys at any point — the IBAN layer bolts onto the existing self-custodial setup without compromising control.
Yann Gerardi, Head of Marketing at Mt Pelerin, called the launch a milestone for the company's mission to “make self-custody a practical alternative to a traditional bank account.” He added that users can now opt out of bank custody while still enjoying full connectivity with the global financial system.
By giving a wallet its own IBAN, Mt Pelerin aims to eliminate the friction that has kept self-custody from becoming mainstream. The feature is available immediately.