Kraken and Estana Custody Team Up for Enhanced Fiat Transactions

New Funding Options on the Horizon

In an exciting development for crypto enthusiasts in the United States, Kraken has announced a partnership with Estana Custody, allowing traders a fresh avenue for fiat deposits and withdrawals. Starting July 29, Kraken users can now easily fund their accounts with U.S. dollars, euros, Canadian dollars, British pounds, and Japanese yen.

What’s in It for Traders?

Not every account can tap into these new features, though. Users sporting “Starter” accounts will have to wait a bit longer. But if you’re at the “Intermediate” or “Pro” level, get ready to register your bank account and wire funds directly to the innovative Etana Custody Wallet integrated into your Kraken experience.

Wire Transfer Wonders

While this partnership is opening doors, there’s a catch: the new onramps are reliant on wire transfers, which means you’ll have to patient. Processing times can stretch from 1 to 5 business days, so make sure you plan your trades accordingly and don’t expect a miracle overnight.

The Currency Camelot

As part of this partnership, Kraken users gain not just a single addition but a plethora of currency options. Users can convert between the five major fiat currencies freely, helping to streamline trades and manage their portfolios more effectively.

New Trading Platforms Galore

It doesn’t stop there! Kraken’s collaboration with Estana also expands trading capabilities, as markets are now accessible through popular forex trading platforms MetaTrader 4 and 5. This gives traders enhanced tools and flexibility when engaging in the crypto market.

Industry Trends: The Big Picture

The move by Kraken reflects a wider trend among global exchanges diversifying their fiat onramps. Recently, other exchanges like Bitstamp have jumped on the bandwagon too, forming partnerships to sustain fiat transfers for their users post-Brexit. Similarly, Smart Valor in Switzerland is embracing fiat currency trading, indicating strong competition in the marketplace.

As the landscape of cryptocurrency continues to evolve rapidly, these strategic partnerships can be seen as vital for the sustainability and expansion of crypto trading as a whole.