Rajarshi Mitra
Independent Analyst
- Abra users will now be able to deposit, invest, and withdraw ether directly from the app.
- Before this, Ethereum was available on Abra only as a synthetic asset.
Abra, the world’s first global investment app, announced that they are adding native integration of its cryptocurrency, Ether (ETH). Abra users will now be able to deposit, invest, and withdraw ether directly from the app.
Before this, Ethereum was available on Abra as a synthetic asset. This meant that Abra users could only gain exposure to Ethereum’s price movements but could only make deposits into the app through a US-based bank account, American Express Card, Bitcoin, Bitcoin Cash, or Litecoin.
Abra CEO and founder Bill Barhydt said in a press release:
“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.”
Willie Wang, Abra’s vice president of product, said:
“This is just the beginning. 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.“
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