Binance Expands Reach With New Gateway for 15 Fiat Currencies

Binance users can keep their fiat funds with new partner Etana while buying and selling crypto assets on the exchange.

AccessTimeIconJul 7, 2020 at 3:33 p.m. UTC
Updated Sep 14, 2021 at 9:00 a.m. UTC
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Cryptocurrency exchange Binance has teamed with settlement provider Etana Custody to increase the options for users buying digital assets with fiat currencies.

  • Announced Tuesday, Binance users can now fund their accounts with 15 national currencies through the fiat gateway that serves the Europe, Asia, North America and Oceania markets.
  • The 15 funding options include the United Arab Emirates dirham (AED), Czech koruna (CZK), Danish krone (DKK), Hungarian forint (HUF), Mexican peso (MXN), Norwegian krone (NOK), Polish złoty (PLN), and Swedish krona (SEK).
  • Other options like the euro (EUR), Australian dollar (AUD), Canadian dollar (CAD) and Swiss franc (CHF) are also included.
  • Once set up with a funded Etana account, users will not need to leave Binance's website in order to fund purchases of cryptocurrencies such as bitcoin (BTC) and ether (ETH).
  • Etana provides Know Your Customer (KYC) and Anti Money Laundering (AML) standards that are compliant with the Bank Secrecy Act, per the announcement.
  • Brandon Russell, Etana founder and CEO, explained that users would be able to trade digital assets on Binance while maintaining their fiat balance on Etana.
  • Also providing services for crypto exchange Kraken, Etana Custody is a third-party custodian and settlement provider of both fiat and digital assets for brokers, traders and exchanges.
  • The addition brings the number of countries and regions in which Binance customers can fund accounts with fiat to 170, according to the firm.

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