The Zug, Switzerland based digital assets platform EBO has announced the launch of a new mobile application letting users buy, sell and exchange Ether and other Ethereum blockchain tokens without having to go through any KYC steps on the part of the exchange. The platform, called EBO Ethereum Crypto Wallet is available for download on the iOS App Store.
Users are able to transact and exchange digital assets without having to register on the application and provide personal details. While this may raise some compliance or legal concerns, the exchange has maintained that “[it] is a non-custodial application. Users will always fully maintain custody of their funds when using the EBO wallet”. The lack of KYC requirements could make it easier for some users to trade and store digital assets than before.
Nonetheless, the company also said that despite the lack of KYC, “EBO works within the current regulatory framework,” and as such, “does not allow users to exchange digital tokens that could be considered a security.”