Binance has added fiat gateway support for 15 national currencies through a partnership with Etana Custody. 

According to an official announcement today, the Seychelles-based global blockchain company and crypto exchange has added support for the 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).

Support for the currencies has been made possible through a partnership with crypto and fiat institutional custodian Etana Custody.

Commenting on the news Binance Founder and CEO, Changpeng Zhao (CZ), said:

“We are pleased to introduce this new fiat gateway through Etana Custody. The integration helps make access to digital assets more effortless for people across the European, Asian, North American and Oceanian markets.

“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.”

Users can now link their Binance accounts to Etana Custody accounts, wire funds directly from their bank accounts to Etana, and then get their Etana fiat balance credited to their Binance accounts, instantly and free of charge. 

Etana has full Know Your Customer (KYC) and Anti-Money Laundering (AML) processes in place, and has waived custody and deposit fees for sums of $1,000 USD or higher until 5 August 2020 (a $35 bank wire transfer fee still applies). Maximum deposit and withdrawal limits will depend on the level of the Binance account, and minimum deposit and withdrawal limit is $150. 

AYO.NEWS says:

Yet again we see Binance making an effort to attract the all-important institutional clients – and this easier onboarding for a host of major fiat currencies should do just that. Last month the company also announced it is planning to launch a UK-based platform this summer, to meet rising demand from institutional clients.

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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