Now platform users have a fiat option for Binance exchanges. This is an exchange agreement with the firm Etana Custody, through which, there is the possibility of buying cryptomonies with the use of 15 coins.
The announcement was made last Monday by Binance in its blog. It offered details of the agreement with the aforementioned Etana Custody with whom this gateway exchange will be operated.
It should be noted that Etana is a company dedicated to the custody of fiat and digital money used by institutional investors around the world. The association of both firms will allow secure exchanges in all continents.
15 currencies in the option of exchanging fiat for crypto currencies
Users in 15 countries, spread over 5 continents, will be able to use their national currencies to exchange Bitcoin and dozens of other digital currencies.
Some of the national currencies to be received include the Dirham of the United Arab Emirates, the Koruna of the Czech Republic, the Danish Krone, the Mexican peso, among others. The modality consists of linking the Binance account with Etana to make the charges with the coins of any of the 15 countries on the list.
An important aspect is that, according to the blog post, the option to use fiat in Binance to trade with cryptomonies, is free of charge when making deposits.
“We are extremely pleased to introduce this new fiat gateway through Etana Custody. The integration helps to make access to digital assets less difficult for people involved in the markets in Europe, Asia, North America and Oceania,” says the exchange’s CEO, Changpeng Zhao, quoted by the blog.
At the same time, he said that Binance is making every effort to open fiat-digital purchase options. Currently it is a method that covers about 170 countries, the vast majority of them through the U.S. dollar.
The option to buy crypto-currencies with fiat money through the agreement between Binance and Etana is a reality.
Binance users now have the option to use fiat to buy cryptomoney.
Changpeng Zhao: it is safer to have cryptomonies in exchanges
A “perfect experience” for customers
For his part, Brandon Russel, CEO and founder of Etana Custodi, said they are working to provide a perfect experience. Customers will enjoy it in terms of exchanging fiat for cryptomoney.
“We share that vision of providing our customers with a perfect fiat-to-digital currency exchange experience by promoting broad access to digital markets. By partnering with Binance, users of that platform have the option to keep their digital assets at Binance and their fiat balances at Etana. This is an alternative to provide joint solutions to the participants in the digital markets”, he emphasized.
Etana Custody is working to provide its clients with the best tool to improve access to digital assets. Binance, on the other hand, promotes access to crypto-currencies through fiat money. This opens the doors for a more massive use and access to digital money for millions of people.
The alliance allows both firms to complement each other in their objectives. At the same time, it gives a vision of what could be the future transition between one form of money to another, on the one hand, or the coexistence of both models.