Ripple (XRP), the 2nd largest cryptocurrency in blockchain industry, may soon gain credibility with legal stature.
Abra, a ‘non-custodial’ digital wallet and exchange app, will soon allow investors to purchase US stocks with Ripple (XRP). The Abra app have more than 500,000 installs on Play Store and 4,400 ratings. On the iTunes – Abra app have over 7,500 ratings and possible more installs than on Google Play.
Founded in 2012, Ripple developed its own digital currency called XRP, which is now among the oldest cryptocurrencies in the crypto industry. XRP has also been a very popular crypto on Abra. The digital wallet app works on a synthetic currency model that allows global crypto investors to instantly trade between any of the 28 cryptocurrencies or 50 fiat currencies.
Strategic Move From Abra
This strategic move by Abra came day after the company launched a new service that allows its customers to purchase traditional assets like ETFs and shares with Bitcoin (BTC). Abra is already in process of exploring thirty different crypto asset investment options, and would now develop an XRP supported investment product. Tech stocks like Netflix, Google, Facebook, and Amazon are on offer in the initial rollout. It may also offer ETFs like Vanguard Growth and the S&P 500; commodities like SPDR Gold Trust, indexes like the Russell 2000, along with other global assets in the future.
No Fees For a Year
This innovative single app by Abra that will serve as the go-to investing app for the globe, and soon crypto enthusiasts will see other services in the banking arena to allow access to financial services. Abra has emerged the first non-custodial service in the world to allow investors to purchase traditional stocks with cryptocurrency. Initially, all the transactions will be free of charge until the end of the year, and the minimum investment amount will be equivalent of 5 US dollars.
The Abra wallets users can invest and withdraw funds using bank and wire transfers, credit and debit cards. Or, even with cryptocurrencies such as Bitcoin, Litecoin, or Bitcoin Cash .
Abra team is working to bring more cryptocurrencies and crypto assets to the platform.
Image Source: techstartups
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