The regulated spot and futures crypto exchange Kraken announced a wire service. It will allow users to transact in U.S. dollars, euros, Canadian dollars, British pounds, and Japanese yen from anywhere in the world through Etana Custody. Worldwide fiat funding options now accessible from Kraken.
The new feature requires users to create an Etana Custody Wallet. Across nearly 180 countries, it is available immediately to Kraken’s Intermediate and Pro clients. According to a company blog, users’ bank accounts will be linked to this wallet, which will be topped off through wires which may take up to 1-5 days to process.
The Etana wallet will support free and expedient transfers. It instantaneously connects with a user’s Kraken account. All starter accounts on Kraken must update for this feature.
“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.”
Worldwide fiat funding options now accessible from Kraken. Except for domestic transactions in Japan yen, Etana supports domestic or international withdrawals and deposits of all the currencies listed above.
After a 2,000 plus participant funding round, in June, Kraken announced it had passed the coveted $4 billion valuation mark. In the announcement, the firm said it holds over $100 million for a self-run insurance fund.