Etana is a Financial Custodian: a specialized financial institution whose purpose is the safe keeping of a client’s assets. The client’s assets are always held under the client's own name, protecting the assets in the event of the custodian or financial institution failing.
In Etana’s case, this means an individual or institution can deposit traditional or digital currency for safe keeping. Unique to Etana’s custody platform, client can make some or all of the currency available for trading at our exchange partners. There is no need to externally transfer funds from Etana to an exchange, leaving the client unprotected and subject to risks like hacking, theft or an exchange going bankrupt.
Having a custodian like Etana ensures your assets are always available to buy and sell at an exchange, without the risk of them leaving your Etana account until the purchased assets or proceeds from a sale have safely been transferred to Etana.
In addition to the safety of holding assets in custody, Etana also offers enhanced security compared to payment service providers (PSPs) and money transfer services. Etana uses the trusted and proven bank-to-bank Fedwire and SWIFT wire transfer systems. Using the traditional banking networks also ensure deposits are insured by the FDIC and similar national bank deposit insurance policies.