What is Etana?
Etana Custody is a custody service and funding partner that enables our clients to fund their Kraken accounts with 5 major currencies USD/EUR/CAD/GBP/JPY.
A "Venture" needs to be created on Etana between Kraken and the client. 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:
- Register an account with Etana Custody as an Individual or Corporate user (see "How to apply" below).
- Connect your Etana and Kraken accounts via a 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, you will initiate a 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.
|✓||All Pro level Corporations|
|✓||All Pro level Individuals|
|✓||All Intermediate level Individuals|
*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.
Etana Custody requires a passport copy as part of their KYC process.
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.
Note: Corporate clients will need to submit business formation documents and corporate onboarding forms from Etana.
For further guidance, please refer to the Etana-Kraken User Manual that can be found under the "Manuals" tab from within your Etana Custody account.
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).
|US Dollar||$150*||$35 + 0.125%|
|Euro||€150*||€35 + 0.125%|
|Canadian Dollar||C$150*||C$35 + 0.125%|
|British Pound||£150*||£35 + 0.125%|
|Japanese Yen||¥15,000*||35 USD equivalent + 0.125% (in JPY)|
*The actual deposit/withdrawal minimums are 100 USD/EUR/CAD/GBP/11,000 JPY, but we recommend sending the suggested minimum amounts to account for Etana's fees and any other wire fees that might be assessed by your bank or intermediary banks.
Maximum amounts are tied to your Kraken Account Limits.
Processing time is 1-5 business days
Transfers between Kraken and Etana:
Transfers between Kraken and Etana are free and near-instant.