New Trading Options For Five Major Fiat Currencies Introduced By Kraken

By Sumedha Bose

Major United States-based crypto exchange Kraken, is rolling out new funding options for five major cryptocurrencies.

They have allegedly partnered with Etana Custody, in order to introduce new options for fiat deposits and withdrawals for USD, EUR, CAD, GBP, JPY.

Kraken intends to bring these new funding options to their customer base, which is regionally extremely diverse. The customers will now have the opportunity to trade in U.S. dollars, Euros, Canadian dollars, British pounds sterling and Japanese Yen.

This new partnership that Kraken has forged with Etana will also offer Kraken customers conversion options between any of the five fiat currencies. These new modifications are however only available to “Intermediate” and “Pro” level traders on Kraken.

The new options have not been made available for “Starter” Kraken accounts. The long time users can use this option by registering their bank account and wiring funds to the Estana Custody Wallet, which has been merged with the clients’ Kraken accounts. The exchange stated:

“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,” the exchange stated.

The onramps are in the form of wire transfers, so processing time will be somewhere between 1-5 business days. These new developments would prove to make trading more convenient for Kraken users.