Cryptocurrency exchange Binance has added support for deposits in 15 additional fiat currencies to its platform, through its new partnership with Etana Custody.
On July 7 announcement Binance announced that it added support for:
United Arab Emirates dirham, Australian dollar, Canadian dollar, Swiss franc, Czech koruna, euro, British pound, Hong Kong dollar, Danish krone, Hungarian forint, Mexican peso, Norwegian krone, New Zealand dollar, Polish złoty and Swedish krona.
Binance added the currencies through partnership with crypto asset and fiat money institutional custodian Etana Custody.
Binance CFO Wei Zhou said that users can transfer the funds via SWIFT wire transfer, adding:
“After linking Binance accounts to Etana accounts, Binance users can wire funds directly from their bank accounts to Etana, and then have their Etana fiat balance credited to the corresponding Binance accounts instantly and free of charge by initiating a fiat deposit request on Binance.”
Etana’s onboarding process includes: Know Your Customer and Anti-Money Laundering checks compliant with the Bank Secrecy Act.
Binance CEO and co-founder Changpeng Zhao said on the partnership:
“The integration helps make access to digital assets more effortless for people across the European, Asian, North American and Oceanian markets.”
Etana waived custody and deposit fees for sums of $1,000 or higher until Aug. 5, however, a $35 bank wire transfer fee still applies.
The maximum deposit and withdrawal limit depends on the level of the linked Binance account, while the minimum deposit and withdrawal limit is $150.
Source: Cointelegraph | Image Credit: Binance