Multiple fiat deposits and withdrawals launch on Kraken crypto exchange

The latest announcement by Kraken indicates that fiat deposits and withdrawals have been made possible following a partnership with Etana Custody. Kraken clients are now able to make deposits in US dollar, euro, Canadian dollar, British pound, and Japanese yen. While this is good news to the customers, only those with intermediate and pro-accounts can use the service.

The announced released on Monday states:

“In collaboration with Etana Custody, almost every Kraken client across 180+ countries has access to new funding options in five major currencies – USD, EUR, CAD, GBP, and JPY. The new options are available to Intermediate and Pro accounts (Starter accounts can upgrade to get access).”

The service is made possible by Etana Custody Wallet direct connection to Kraken accounts. Customers will need to register accounts with Etana, verify them before being allowed to transfer funds.

Kraken explained:

“To deposit, wires are sent to Etana, then quickly credited to the client’s Kraken account. To withdraw, funds are quickly debited from the client’s Kraken account, where they can be held in the Etana Custody Wallet, or wired to the client’s bank account.”