Binance Partners With Etana Custody To Offer Fiat Gateway For 15 Currencies

Changpeng Zhao-led cryptocurrency exchange, Binance is known for its consistent developments as well as partnerships. Binance’s latest announcement reveals that the platform has taken a huge leap in terms of global expansion. 

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Binance Eyes Global Expansion

Malta-based cryptocurrency exchange, Binance his touted as the world’s largest crypto exchange. The constant developments and partnerships have always worked in favor of the exchange, keeping it on top. The exchange has been pushing past borders and geographies eyeing global expansion. Over the past year, Binance has ventured into several countries hoping to stimulate crypto adoption.

In more recent updates, the cryptocurrency exchange revealed a new partnership that has further paved the way for the addition of currencies of different countries. The exchange revealed in a blog post that it had partnered with Etana Custody. This platform provides custodial services for cryptocurrencies on exchanges. The latest partnership will reportedly allow users of Binance to avail deposit service for 15 fiat currencies.

Speaking about the exchange’s goal of global expansion, CEO Changpeng Zhao aka CZ stated,

“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.”

Brandon Russel, the CEO of Etanac Custody suggested that both the companies involved shared similar visions.

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Countries across the Asian, North American, European as well as Oceanian markets are said to be targeted in this partnership. Users will be able to deposit fiat currencies of, United Arab Emirates Dirham (AED), Australian Dollar (AUD), Canadian Dollar (CAD), Swiss Franc (CHF), Czech Koruna (CZK), Euros (EUR), British Pound (GBP), Hong Kong Dollar (HKD), Danish Krone (DKK), Hungarian Forint (HUF), Mexican Peso (MXN), Norwegian Krone (NOK), New Zealand Dollar (NZD), Polish złoty (PLN), and Swedish Krona (SEK).

Users would be able to avail of this service starting from 7 July 2020 to 5 August 2020. A bank wire transfer of 35 USD would remain intact, however, custody fees for deposits of 1000 USD or higher would be waived.

Etana Custody’s Previous Data Breach

Etana Custody has been providing its services to the prominent cryptocurrency exchange, Kraken. Back in April 2020, the platform was reportedly hacked by an external party. Even though no funds were lost, certain user data including addresses, names, phone numbers, and email addresses, could have been jeopardized.

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Author: Sahana Kiran

Sahana Kiran is a graduate in Political Science, Economics and Journalism. She is a full-time crypto writer at CoinGape and takes a keen interest in cryptocurrencies, especially Ethereum and Bitcoin. Even though she’s not a HODLER yet, she has eyes on Bitcoin.

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