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Binance Rolled Out Support Feature For 15 National Currencies Via New partnership

By Shannon Wilson | July 8, 2020

Binance reportedly teamed up with crypto asset and fiat money institutional custody provider Etana Custody, to roll out facilitating features for deposits of 15 new national currencies.

Specifically, Binance has reportedly released facilitating features for the United Arab Emirates dirham, Australian dollar, Canadian dollar, Swiss franc, Czech koruna, euro, British pound, Hong Kong dollar, Danish krone, Hungarian forint, Mexican peso, Norwegian krone, New Zealand dollar, Polish złoty and Swedish krona.

The update was reportedly made possible via a collaboration with crypto asset and fiat money institutional custodian Etana Custody.

Per Binance CFO Wei Zhou, SWIFT wire-enabled transfer of the funds will reportedly be made available to clients. 

“After linking Binance accounts to Etana accounts, Binance users can wire funds directly from their bank accounts to Etana, and then have their Etana fiat balance credited to the corresponding Binance accounts instantly and free of charge by initiating a fiat deposit request on Binance.” Zhou further explained. 

Etana’s onboarding process reportedly comes with a Know Your Customer and Anti-Money Laundering check, which are in compliance with the Bank Secrecy Act. 

Changpeng Zhao – co-founder and current head of Binance – reportedly shared that this alliance will reportedly enhance the accessibility of crypto

“The integration helps make access to digital assets more effortless for people across the European, Asian, North American and Oceanian markets.”

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