Abra, a digital currency wallet and exchange app platform, has released native Ethereum support, where users can now be able to receive, hold, sell and purchase Ethereum directly from its wallet. Users can also use the Altcoin as an on-ramp to invest in other Abra-listed Crypto and fiat currencies, with more than 30 Crypto assets and 50 fiat currencies. The unveiled native Ethereum support involve Abra’s recently-listed BIT10 Index token that tracks the 10 largest Cryptocurrencies by market capitalization.
Abra is a financial services and technology company which operates an all-in-one Cryptocurrency wallet and exchange app, which is available on both iOS and Android platforms. In a statement, the financial services company noted that Abra, to date, had only supported Ethereum, called as a synthetic asset, an investment mechanism which generates Crypto-collateralized contracts where users could attain exposure to the Altcoin’s price movements, but cannot hold the coin. CEO of the company, Bill Barhydt stated in a statement that noting that Ethereum support sets the stage for the company to divulge native ERC-20 support, especially an entire cluster of ERC20-based stablecoins.
Recently, Barhydt has said that as the company’s wallet service gains traction as an investment platform, Abra, as many Crypto firms, is yet to surmount the sphere of crypto-enabled consumer cross-border payments and remittance services at scale. Last month, it was reported that Barhydt considered the private or authorized Blockchain networks will in due course fail miserably, comparing them with the concept of the private extranet from the 1990s, which is now inoperative, similarly limited access to an approved set of users. Based in Mountain View, California, Abra supports some of the most popular Cryptocurrency assets including Bitcoin, Ethereum, Litecoin, Ripple, ZCash, DigiByte, Stellar and more.