Kraken announced that they are adding five global fiat currency on their platform for users to deposit and exchange. Collaborating with Etana custody wallet, Kraken has decided to add USD, EUR, CAD, JPY, and GBP for its users to exchange across 180 countries worldwide. The new service is allowed to intermediate and pro accounts.
Etana Custody Wallet allows users to exchange from one fiat currency to another. Now Kraken users can use its service to fund their Kraken account with any mentioned five global currencies.
How can users avail this service?
Kraken users with intermediate or pro account can transfer funds from their banks to Etana custody this process usually takes 1 to 5 days. And then exchange that to any other currency which they can move back to their Kraken account. Users’ Etana and Kraken wallets are connected with each other, which makes it easy for funds to transfer between them without much delay. When users have completed the exchange between fiat currencies, they have the option to keep their funds in Etana wallet or to transfer them to Kraken account.
The minimum amount that users can exchange is 150 with USD, CAD, EUR, and GBP. 15,000 for Japnese Yen. Etana also charges an extra 35 in the currency that is being transferred with 0.125% of the amount as fees.
Kraken exchange was launched in 2011 as the crypto to fiat trading service by Jesse Powell. Since then the exchange has added many services, and this new move to add five major global fiat currency is another feather in its cap.