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cryptocurrency July 24, 2018

One of the most popular cryptocurrency wallet service providers, MyEtherWallet, will launch a beta version of MEW Connect, its upcoming iOS application.

An announcement from MyEtherWallet (MEW) made on Monday via Twitter asked followers to “stay tuned” for the beta release of the new MEW Connect iOS app, which is expected to launch in the next few days. Users will not be required to enter their private keys; instead, the app utilizes a QR scanner and barcode. The full launch of the iOS application, along with an Android version, is expected in September.

MEW confirmed it will be slowly adding additional features, making sure users are comfortable with the application, and a cryptocurrency payments feature is on the development roadmap for MEW Connect. CEO Kosala Hemachandra told TechCrunch:

“That’ll be the best use case for crypto we can implement in the near future. If you want to go mainstream, that’ll be a huge advantage for the whole industry. First, we want people to get used to this MEW Connect concept, scanning a QR code and creating a P2P link.”

The P2P connection opens a user’s MEW account once they have scanned the barcode apparently located on MEW Connect uses Apple’s keychain services to encrypt the application and pair it with the web-based peer. MEW users will need to set a strong password and set up “backup words” in case they lose their phone or forget the password.

MyEtherWallet is an open-source platform that relies heavily on community support. Hemachandra expanded on the company’s relationship to the crypto community:

“My hope is beta users will be developers who can go through our code. I really believe in open source and we don’t plan to hide anything.”

Earlier this month, MEW also announced a partnership with secure cryptocurrency payment processor Simplex, which will allow MEW users to buy Ethereum with their credit cards, bypassing cryptocurrency exchanges entirely. To use the new function, MEW users will have to complete a one-time know-your-customer process to comply with anti-money laundering regulations.

Disclaimer: ETHNews is a division of Blockchains Management, Inc. and Kosala Hemachandra is the Chief Blockchains Officer for Blockchains Management, Inc.

Melanie Kramer is a freelance FinTech, blockchain, and cryptocurrency writer based between France and Canada. Melanie has studied, and retains an avid interest in, global politics, business, and economics.

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Source: ETHNews