Kraken Rolls Out New Funding Options for 5 Major Fiat Currencies

United States-based crypto exchange Kraken has partnered with Estana Custody to offer new options for fiat deposits and withdrawals in five major currencies. 

New funding options for USD, EUR, CAD, GBP, JPY

According to an official announcement from the exchange on July 29, the partnership will bring Kraken’s global customer base access to new funding options for U.S. dollars, euros, Canadian dollars, British pounds sterling and Japanese yen.

While the new onramps are not available for “Starter” Kraken accounts, “Intermediate” and “Pro” level traders can access the fiat funding options by registering their bank account and wiring funds to the Etana Custody Wallet, integrated into clients’ Kraken accounts. 

Since the onramps rely on wire transfers, processing times remain between 1-5 business days.

In addition to funding support, the collaboration with Estana will provide Kraken clients with conversion between any of the five fiat currencies, the announcement notes. 

Kraken markets will also now be available via the forex trading platforms MetaTrader 4 and 5.

Global crypto exchanges diversifying fiat onramps

As reported yesterday, major European crypto exchange Bitstamp has partnered with digital asset brokerage BCB Group to support direct transfers in British pounds sterling by the end of this year.

As the Halloween deadline for Brexit looms, the partnership represents an important step to ensure that U.K. clients can continue to have access to fiat transfers on the European trading platform.

Earlier today, Cointelegraph reported that the Swiss integrated cryptocurrency exchange Smart Valor has launched trading of four fiat currencies with Bitcoin (BTC) and Ether (ETH). The platform’s roadmap for the next six months include plans to support long-term deposits of fiat currencies and to roll out a CHF-based stablecoin.