Crypto wallet Abra allows storing real ETHER

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  • Blockchain
  • 10 months ago
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Cryptocurrency wallet provider Abra is now letting users deposit and withdraw ETH (Ethereum) directly from its app rather than using the service via a U.S. based bank accounts, AMEX cards or BTC (Bitcoin) or LTC (Litecoin).

Furthermore, users  could have their balances converted into a “synthetic” version of ether, meaning they were exposed to the cryptocurrency’s price movements but didn’t actually hold the asset.

Now, Abra’s non-custodial wallet will store the real thing, as the company’s CEO announced, “By adding native ether support, Abra users will now be able to easily buy and move ether from other wallets to the Abra app.”

“This also opens up the potential to use ETH as an on-ramp to invest in the other assets listed on Abra.”

And it gets better as Abra’s VP pf product, Willie Wang, stated, “In the near future, we will offer native deposit and withdraw support for the other ERC-20 tokens currently listed on Abra, in addition to other new tokens that we will now be able to list.”

Joseph Lubin, an ethereum co-founder and founder of the ethereum development studio ConsenSys, praised Abra’s development, “While ether was intended to be the fuel that powers applications on the Ethereum platform, we are moving into a world where an enormous variety of tokens can start to be used on the payment side of a transaction,”

Just last month, Abra also started allowing users to buy fractions of traditional investment instruments such as stocks and exchange-traded funds through its blockchain-based app.



Source: Smart Trend Team