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South Korean cryptocurrency exchange Korbit said on June 1 that it launched a “Send to Contact” service that allows users to transfer digital assets using a mobile phone number.
The service lets users send cryptocurrency by entering a recipient’s phone number and legal name, without needing a separate wallet address. Korbit said it is designed to reduce the hassle of manually entering wallet addresses and the risk of losses caused by input errors, while simplifying crypto transfers to the level of conventional financial services.
The service is available through the Korbit app. Transfers are capped at $725 per transaction and $7,246 per day. There is…
