By Hassan Mehmood (Saudi Arabia)
Crypto exchange Binance rolls out fiat gateway for fifteen different fiat currencies. The facility of fiat deposits in different currencies is made possible with a partnership with crypto and fiat custodian company Etana Custody.
According to an announcement on July 7, the world’s top trading platform is now working with Etana Custody to offer fiat on-ramps across North America, Europe, Asia, and Oceanian markets.
Per the partnership between two giant companies, users of Binance first deposit fiat funds from their bank accounts to Etana and then forward funds to the crypto exchange. The fiats include Australian Dollar (AUD), Swiss Franc (CHF), Euros (EUR), Hong Kong Dollar (HKD), Hungarian Forint (HUF), Norwegian Krone (NOK), Polish złoty (PLN), United Arab Emirates Dirham (AED), Canadian Dollar (CAD), Czech Koruna (CZK), British Pound (GBP), Danish Krone (DKK), Mexican Peso (MXN), New Zealand Dollar (NZD), and Swedish Krona (SEK).
Binance Founder and CEO Changpeng Zhao said:
“We are pleased to introduce this new fiat gateway through Etana Custody. The integration helps make access to digital assets more effortless for people across the European, Asian, North American and Oceanian markets.”
Also read:“At Binance, we are committed to furthering global digital assets adoption by launching multiple fiat-to-digital assets gateways. Binance’s fiat gateways covers over 170 countries and regions in the world and we are continuing to add more to make crypto more available across the globe,” he added.
Etana Custodian: Institutional Custodian for fiats and Digital Assets
Etana Custody added the option for digital assets but it is very strict about compliant policies such as AML (Anti Money Laundering) and KYC (Know Your Customer) and is also complied with Bank Secrecy Act (BSA).
Etana Custody Founder and CEO Brandon Russell said:
“We share the vision of Binance in providing users with a seamless fiat to digital currencies experience and providing broader access to digital markets. By partnering with Binance, Binance users will be able to trade digital currencies on Binance while maintaining their fiat balance on Etana Custody, furthering our mission to provide financial solutions for financial market participants.”
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