jFIAT on and off-ramp: bridging fiat and crypto together with Mt Pelerin.

It has never been that easy to on-board people on Polygon and Ethereum!

Together, Jarvis and Mt Pelerin allows anyone to deposit fiat into the Blockchain, with no fee and no spread, and withdraw jFIAT into their bank account.

Fiat <> jFIAT. 1:1. 0-fee. 0-spread.

Mt Pelerin supports and provides a fiat gateway for Jarvis Network’s synthetic assets (jFIAT), allowing anyone to buy and sell synthetic Euro, Swiss Franc, and British Pound by bank wire (and soon by card) for their equivalence in the traditional finance world.

After having passed a KYC on Mt Pelerin’s Bridge wallet (it takes only few hours to get verified), users can buy or sell any supported jFIATs on any supported network (Ethereum and Polygon, but soon we will be adding BSC and other chains), without fee or spread, and without limit.

This is by far the smoothest on-boarding to DeFi you can imagine. You can literally upload your fiat on Polygon!

jFIATs features

As you may know jFIATs are designed to be usable: they are stable, very liquid, and scalable. Their built-in 0-price impact Forex swap features allows them to be exchanged for USDC or any other jFIAT without slippage, and the OCLR contracts enables to exchange them for any other token without requiring a liquidity pool (you can learn more about jFIATs by reading our documentation and some articles like the one on OCLR).

By providing users the ability to buy jFIATs at a 1:1 ratio, Mt Pelerin creates a ramp to access liquidity, yield, and services, on Polygon and Ethereum.

If you want to buy jSGD, Rune, Quick, or JRT with Euro, Swiss Franc or British pound, you can deposit your fiat into the Blockchain through the Bridge wallet, and exchange the jFIATs received for any of these token.

A vision: the “XXX” of DeFi

Mt Pelerin and Jarvis Network have a common goal: bring DeFi to everyone!

When we met Mt Pelerin’s founder Arnaud for the first time, we found out that we had the same motto: create the Revolut of DeFi (you can replace Revolut by any user-friendly neo-bank.

Most neo-banks are user-friendly mobile-first financial platform, aggregating multiple services such as payment, remittance, Forex, investing (crypto, stocks, metals, ETFs) or financial services. They have a smooth on-boarding, and very often low fees.

Jarvis’ jFIATs cover some of these features, such as Forex, remittance, and investing in crypto. You can try these features at jarvis.exchange. You may also want to read this tweet, comparing Revolut Forex and Crypto rates vs Jarvis’: https://twitter.com/pscltllrd/status/1450519939077521409.

Mt Pelerin’s Bridge wallet provides the smooth onboarding and payment. It bridges the fiat world with the crypto one by providing multiple services:

• direct fiat on and off-ramp on multiple networks and directly in the address of your choice (address generated in your Ledger, Metamask, Bridge wallet, etc.);
• third party payment service (companies can pay their invoices, salaries, or rents in crypto!);
• personal and corporate IBAN (soon).

The combination of Mt Pelerin’s banking infrastructure and Jarvis’ jFIATs capabilities covers already most of any neo-bank features. What would be left would be to integrate jFIATs into more protocols to access other financial services (derivatives, money market, insurance, gaming, etc.) and into a payment system (a banking card or widget to pay online).

More info about Mt Pelerin

Mt Pelerin is a regulated Swiss FinTech company providing products and services bridging the crypto world with traditional finance. It was bootstrapped by its own community through equity crowdfunding that raised more than $2 million in 2018, the first one to offer a tokenized share with full voting and dividend rights to the public. Since then Mt Pelerin has become one of the leading actors in asset tokenization with its Bridge Protocol platform and provides unique cryptocurrency services through its mobile app Bridge Wallet. It is currently working on the creation of a tokenized full-reserve financial institution in Switzerland.

Launched in 2020 with its mobile app Bridge Wallet, the crypto-fiat gateway developed by Mt Pelerin focuses on facilitating direct fiat to crypto investments and easy crypto withdrawals to bank accounts around the world via SEPA, SWIFT, or SIC transfers, a service made possible by the banking partnerships of Mt Pelerin and its financial intermediary status.

With more than 13k users today, the Swiss-made app is gaining traction for offering completely free crypto-fiat transactions, with no commission, inflated spread, or hidden costs whatsoever up to a certain threshold, with a small degressive fee charged beyond. By giving access to what are essentially OTC rates to all its users, Bridge Wallet gives them better rates than they could obtain themselves on centralized exchange platforms.

Pascal (pscltllrd on Twitter).

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⛔ Risk Warning: Investing in digital financial assets involves a high degree of risk and volatility and is not suitable for all investors; do not risk more money than you can afford to lose. Please consult an independent professional financial or legal advisor to make sure the product is right for you.

⛔ Disclaimer: This article contains text, data, graphics, photographs, illustrations, and information (“Information”) connected with Jarvis International and/or other entities part of the Jarvis group ( “Jarvis”). Jarvis attempts to ensure Information is accurate, however, information is provided “AS IS” and on an “AS AVAILABLE” basis and may not be accurate or up to date. The publication of this article does not represent solicitation by Jarvis of buying the token “Jarvis Reward Token” and is not to be considered as a recommendation by Jarvis as to the suitability of any investment, if any, herein described. No action should be taken or omitted to be taken in reliance upon the information in this document. Jarvis accepts no liability for the results of any action taken on the basis of the Information.