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.
To use the Etana Custody funding method, clients need to create a separate profile at Etana Custody that connects to their Kraken account for the purposes of wiring funds. This allows clients 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 as an Individual or Corporate user and pass KYC verification (see How to apply below).
- Register your bank account with Etana under the External Accounts tab for each currency you plan to wire.
- Initiate a deposit from the Etana platform to the Kraken Linked Account.
- Once the wire has been received by Etana, your Kraken account will automatically be 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 account. From there, you can choose to keep your money in your Etana Custody account, or initiate a wire withdrawal to your bank account.
How to apply?
- Sign into your Kraken account.
- Navigate to Funding > 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, you must navigate to Linked Accounts to connect your Kraken and Etana accounts.
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. Please remember to use the full-name matching your government-issued ID.
For further guidance, please refer to the Etana-Kraken User Manual that can be found under the Manuals tab when signed 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 converted (at current market rates) 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.
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 ¥|
*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 2-5 business days
Linked Account transfers:
Transfers of funds solely between Kraken and Etana accounts 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 signed into your Etana account or by sending an email to email@example.com.