Kraken recently added to its platform a wire service that will enable customers to make transactions with a number of fiat currencies.
All transactions will be enabled by Etana Custody. Users will be able to make deposits and withdrawals with US Dollars (USD), Euros (EUR), Canadian Dollars (CAD), British Pound (GBP), and Japanese Yen (JPY).
People from over one hundred and eighty countries will be able to access the service. Currently, only the exchange users of the Intermediate and Pro accounts are able to use it.
For customers to use this service they have to meet some conditions first:
- have an Etana Custody Wallet
- link the bank account/s of the user to the Etana Custody Wallet.
The entire process will take from 1 to 5 days to be completed by the service.
When you set up your wallet, it will instantly sync with your own Kraken account, and be able to wire or convert a range of fiat currencies to the Etna wallet.
The Etana Custody Wallet enables the user to perform withdrawals and deposits domestically or internationally. The only fiat currency in which no domestic transactions can be made is the Japanese Yen- JPY.
In other recent developments, the exchange also acquired ‘Interchange,’ an accounting, reconciliation, and reporting services provider.
Regarding the new addition, the CEO of the crypto exchange, Jesse Powell, stated the following:
“I couldn’t be more excited to welcome Dan, Clark and the Interchange team to Kraken. What is great about Interchange is that it makes accounting, trade reconciliation and reporting so much easier for institutions and individuals trading on Kraken, so our clients can stay focused on tapping the tremendous value that cryptocurrency markets offer.”
Featured Image: The Motley Fool
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