What is Etana?
Etana Custody is a custody service that enables our clients to fund their Kraken accounts with 5 major currencies USD/EUR/CAD/GBP/JPY.
A separate account needs to be created at Etana along with a "Venture" that connects a client's Kraken and Etana accounts for the purposes of wiring funds. This allows the client to instantly send funds back and forth between their Etana and Kraken accounts.
To fund your Kraken account using Etana, you will need to:
- Open an account with Etana Custody as an Individual or Corporate user (see "How to apply" below).
- Connect your Etana and Kraken accounts via venture.
- Register your bank account with Etana for each currency you plan to wire.
- Initiate a deposit from the Etana platform to the Kraken venture.
- Once the wire has been received by Etana, your Kraken account will be automatically credited.
*When you wish to withdraw funds from Kraken, you will need to initiate the withdrawal transfer from within your Kraken account, to be sent to your Etana Custody wallet. From there, you can choose to keep your money in your Etana Custody wallet, or initiate a wire withdrawal to your bank account.
How to apply?
- Sign into your Kraken account.
- Navigate to Funding, select "Show all assets" on the account balances table and choose "Deposit" for the relevant currency
- Select Etana Custody from dropdown of funding methods.
- Click the Take Me There button. This will redirect you to Etana Custody for onboarding.
- Provide KYC documents and complete verification with Etana Custody.
- Once you have been fully verified, please accept your venture by navigating to your yellow notification triangle when logged into your Etana account
Note: Corporate clients will need to submit business formation documents and corporate onboarding forms to Etana. Individual and Corporate users will be required to provide KYC documentation that may differ from that required for opening Kraken accounts.
For further guidance, please refer to the Etana-Kraken User Manual that can be found under the Manuals tab when logged into your Etana Custody account.
Exceptions may exist for residents of countries included on the OFAC list. Also, eligible residents of some countries may have an increased due diligence KYC process.
Please note that the ability to use Etana Custody for funding purposes is dependent upon passing their separate KYC verification. Individuals and corporations will be required to provide relevant government-issued documentation during the onboarding process. This may also include proof of source of income and other financial documents.
Clients can use Etana Custody to deposit the following currencies:
*Wires sent in local currency will be automatically converted to the chosen base currency from above.
*FX conversion is also possible for balances held in Etana Custody wallets. Clients must reach out to Etana support for more information.
Bank Wires to/from Etana:
Etana charges the following fees for receiving deposits to your Etana account (sent from your bank account) or sending withdrawals from your Etana account (to your bank account).
|Japanese Yen||¥15,000*||Free||$35 equivalent in ¥|
*Actual Deposit/withdrawal minimums for transfers between Kraken and Etana are 100 USD/EUR/CAD/GBP/11,000 JPY. Deposit/withdrawal minimums for wires between your bank and Etana have a $150 minimum to account for Etana's fees and any other wire fees that might be assessed by intermediary banks.
Maximum amounts are tied to your Kraken Account Limits.
Normal Processing time is 3-5 business days
Funds Transfer between Kraken and Etana:
Transfers between Kraken and Etana are free and near-instant.
Contact Etana Custody
As a separate entity with their own compliance policies, Kraken clients are encouraged to reach out to Etana support specialists with any questions or concerns relating to verification status, registration of bank accounts or bank wires.
We encourage clients to visit the Etana Custody FAQ support page and/or reach out to Etana Support team to address any concerns. Clients can contact Etana Support by navigating to your Discussions tab when logged into your Etana account or by sending an email to email@example.com.