On the back of Kraken’s announcement that its users will be able to fund their accounts in USD, EUR, CAD, JPY, and GBP via Etana Custody (“Etana”)’s Fiat on/off ramp workflow, Etana now also offers access to multiple exchanges and non-exchange liquidity providers from a single Etana account.
In addition, the company is offering a number of additional benefits to eligible users onboarding at Etana, who, with certain restrictions, will be able to:
- Fund and hold G20 currencies
- Convert local currency to G20 currencies
- Fund, hold, and insure qualifying digital assets
- Earn a return or reduce fees based on Fiat/Digital balances held in the Etana ecosystem
- Customize the user experience and control user interaction with market participants
Exchanges and the growing class of non-exchange liquidity providers (“LPs”) also stand to benefit. By joining the Etana ecosystem, 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 BSA-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 asset(s) until they provide instructions to Etana, ensuring that their Fiat and Digital assets are safely settled and delivered.
Seabury Global Markets (“SGM”), a subsidiary of Seabury Asset Management LLC and the fintech investment and marketing vehicle of New York-based Seabury Capital Group LLC (“Seabury Capital”) is 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.
“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,” said Etana Founder and Chief Executive Officer 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, agreements have been signed with Volt Digital Custodian, Bitgo, and Gemini to hold insured digital assets.
Rob Fleschler, Chief Executive Officer of Seabury Global Markets LLC, commented: “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.”
For more information, contact email@example.com or meet our representatives during Consensus: Asia 2019, held September 11-12 in Singapore.
ABOUT ETANA CUSTODY
Etana is a custody solution for Fiat and Digital Assets providing real-time electronic trade settlement in the digital space. Etana is fiat account and digital wallet agnostic, provides segregation of assets and the ability to trade with multiple counterparties without withdrawing assets from the Etana platform. Reference Etana Custody at www.etana.com
ABOUT SEABURY GLOBAL MARKETS
Seabury Global Markets (“SGM”) is a subsidiary of Seabury Asset Management LLC and the investment and marketing vehicle of New York-based Seabury Capital Group LLC, a leading global advisory and professional services firm. SGM conducts fintech product and solution sales and marketing and distribution within the international financial markets. Reference Seabury Global Markets at www.seaburyglobalmarkets.com
ABOUT SEABURY CAPITAL GROUP
Seabury Capital Group LLC (“Seabury Capital”) operates a number of specialty finance, investment banking, technology, and software companies with a core focus anchored in aviation, aerospace & defense, maritime, and financial services & technology. Since its founding in 1995, Seabury Capital has taken ownership stakes in software and asset management businesses servicing the aviation and travel industries.
Within the last few years, Seabury Capital has expanded its portfolio by investing in early stage startup companies within the financial technology industry and structured investment products. In addition, Seabury Capital owns and operates FINRA, NFA and FCA regulated investment banking services firms in the U.S. and U.K., respectively, serving external clients as well as assisting the companies in which Seabury Capital has invested.
Seabury Capital has operations in New York, Amsterdam, Beijing, Berlin, Chicago, Cordoba, Dallas, Dublin, Durban, Edison (NJ), Guernsey, Hong Kong, Houston, Jersey City, London, Los Angeles, Manila, Minneapolis, Mumbai, Nairobi, Seoul, Shannon, Singapore, Summit (NJ), Stamford (CT), and Tokyo. Reference Seabury Capital at www.seaburycapital.com.