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.

Jul 7, 2020 at 3:33 p.m. UTC
Updated Sep 14, 2021 at 9:00 a.m. UTC

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.
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
Fireblocks Deploys ‘Web3 Engine’ for Firms Eyeing GameFi, NFTs

The custody and wallet tech provider is looking to expand beyond institutions involved in DeFi to a broader developer community around gaming, social media and entertainment.

The custody and wallet tech provider is looking to expand beyond institutions involved in DeFi to a broader developer community around gaming, social media and entertainment.

2
A16z Addresses Downturn in Inaugural State of Crypto Report

The inaugural report discussed Web 3 trends and why Ethereum remains the dominant blockchain.

The inaugural report discussed Web 3 trends and why Ethereum remains the dominant blockchain.

3
Citi Says Fallout From Terra Collapse Unlikely to Hit Wider Financial System

Recent weakness in bitcoin and equities looks contemporaneous and doesn’t show any lag or lead effect, the bank’s analysts said.

Recent weakness in bitcoin and equities looks contemporaneous and doesn’t show any lag or lead effect, the bank’s analysts said.

4
Coinbase Pares Back Hiring Plans Amid Weak Earnings, Poor Market Condition

The exchange previously planned to hire as many as 2,000 employees earlier this year.

The exchange previously planned to hire as many as 2,000 employees earlier this year.