- MyEtherWallet (MEW) has released a mobile application that will enable ERC-20 token users to buy crypto in less than 15 seconds.
- The digital wallet provider partnered with Wyre who is meant to facilitate crypto payments within this ecosystem.
The past few years have seen more users leverage MEW wallet to securely store their crypto assets. This open-source platform consequently emerged as a market leader as a non-custodial interface for Ethereum users and is now set to scale its market base with the new mobile app.
They have designed the new wallet to seamlessly connect to users' MEWConnect accounts so that it can be a smooth, yet fast and secure upgrade.
The MEW Mobile App
This new innovation aims to onboard more users to the Ethereum network through convenience. Basically, the app is designed to allow the quick purchase of crypto coins via existing payment channels like credit cards. Kosala Hemachandra, the founder of MEW, highlighted in a statement that they are among pioneer providers of this service;
“We are one of the first Ether wallets. We are not about creating the most fashionable things, instead, we want to make Ethereum accessible to as many people as possible.
We realize that now, more and more, people are mobile-first. That is why we created a mobile app.”
As it stands, the platform has integrated Apple pay within its network so that iOS users will avoid the long KYC process as Wyre will handle this based on the user’s Apple Pay personal information. MEW has since placed a 3.99% face fee for the U.S while other regions will incur 5.25% to use the service. Android users will, however, have to stick with card providers to initiate crypto purchases on the MEW mobile app.
Hemachandra also highlighted that MEW’s mobile app will provide top-notch security and will continue to offer only non-custodial services. According to him, private keys will be hosted within the devices since;
“phones now have a secure chip which is architecturally separated from the rest of the phone. We store encryption keys in this secure chip, it’s capable of generating encryption keys by itself, we never see it,”
This evolution by MEW into mobile apps marks a milestone for the company in scaling its market. The firm’s business will not only be crypto exchange services but also a fiat link for new crypto market entrants.