The regulated spot and futures crypto exchange Kraken announced a
wire service through Etana Custody that will allow users to transact in
U.S. dollars, euros, Canadian dollars, British pounds, and Japanese yen
from anywhere in the world.
Though the new feature is available immediately to Kraken’s
Intermediate and Pro clients, across nearly 180 countries, it requires
users to create an Etana Custody Wallet. Additionally, users’ bank
accounts will be linked to this wallet, which will be topped off through
wires that can take up to 1-5 days to process, according to a company blog.
From there, however, the Etana wallet is instantaneously connected
with a user’s Kraken account and will support free and expedient
transfers.
Additionally, “Etana provides currency conversion for many fiat
currencies. Clients can wire almost any currency to their Etana wallet,
then convert to one of the five major currencies to fund their Kraken
account.”
Etana supports the domestic or international withdrawal and deposit
of all the currencies listed above, except for domestic transactions in
Japan yen.
In June, Kraken announced it had passed the coveted $4 billion
valuation mark, after a 2,000 plus participant funding round. The firm
also announced that it holds over $100 million for a self-run insurance
fund.
Starter accounts on Kraken must update for this feature.
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