Etana Custody, a custody solution for fiat and digital assets that provided real-time electronic trade settlement in the digital space, is now offering users access to multiple exchanges and non-exchange liquidity providers from a single account.
This news comes following the announcement from Kraken, a digital asset exchange, that its users will be able to fund their accounts in USD, EUR, CAD, JPY and GBP via Etana’s fiat on/off ramp workflow.
Etana also lets eligible users of its service fund and hold G20 currencies, convert local currency to G20 currencies and fund, hold and insure qualifying digital assets. In addition, users can earn a return or reduce fees based on fiat or digital balances held in the Etana ecosystem.
The firm says that exchanges and non-exchange liquidity providers can also benefit from joining this ecosystem because by doing so, they will be able to trade with clients in a plug-and-play fashion, gaining the ability to access sales channels in order to expose their pricing to Etana OTC and electronic trading counterparties, including a pilot program for MT4/5 users and brokers.
The Etana onboarding process includes KYC/AML standards that are Bank Secrecy Act-compliant and which continue beyond the initial screening. Clients and their external business bank accounts and digital wallet(s) are reviewed on an ongoing basis. Etana operates a fully funded deposit model where all assets in the trade settlement process are encumbered by Etana. Clients remain in control of their assets until they provide instructions to Etana, to help ensure that their fiat and digital assets are safely settled and delivered.
“The Etana ecosystem is open in design and built to scale over time as more users understand the benefit of being in the network and holding assets within the Etana ecosystem,” says Etana founder and CEO, Brandon Russell. “While we have certain preferred partners that provide specific benefits, we are wallet/bank agnostic, and welcome additional banks and digital depositories.”
To date, Etana has signed agreements with Volt Digital Custodian, Bitgo, and Gemini to hold insured digital assets.
Seabury Global Markets (SGM), a subsidiary of Seabury Asset Management and the fintech
investment and marketing vehicle of New York-based Seabury Capital Group (Seabury Capital) is functioning as Etana’s technology and distribution partner. SGM, alongside other Seabury Capital entities, provide trading infrastructure including trade execution tools, connectivity and post-trade messaging, as well as access to a global sales and support footprint.
Rob Fleschler, CEO of SGM, comments: “We’re excited to be Etana’s business partner, providing financial and human resource support to help grow its user base. This cooperation allows SGM to showcase the strength of our group’s technology, the global reach of our sales and distribution network, as well as how we, together with Etana, deliver a true end-to-end solution in the digital space.”