Abra Trade has added support for Bancor (BNT) and IoTeX (IOTX). BNT is supported both US and internationally. IOTX is supported internationally only at this time. Users can now deposit these cryptocurrencies in their Abra wallets and trade them via Abra Trade alongside 75+ additional cryptocurrencies.
New Listings Overview
Bancor is a decentralized exchange protocol that consists of a series of smart contracts that manage the on-chain conversion of tokens. Bancor’s smart contracts manage the liquidity pools that connect various tokens available in the network. Bancor is used for the seamless conversion of ERC-20 tokens and EOS tokens. BNT, the protocol’s native token, is the default for all smart tokens created on the network. The protocol’s main objective for creating smart tokens is to provide a lasting solution to liquidity problems.
IoTeX has built a decentralized platform whose aim is to empower the open economics for machines — an open ecosystem where people and machines can interact with guaranteed trust, free will, and under properly designed economic incentives. IOTX is the native coin that governs the underlying blockchain protocol. It is used as gas to pay for network fees on the IoTeX blockchain. IOTX also powers smart contracts and allows anybody to become a stakeholder in the IoTeX network.
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Established in 2014, Abra is on a mission to create a simple and honest platform that enables millions of cryptocurrency holders to maximize the potential of their assets. Abra enables both individuals and businesses to safely and securely buy, trade, and borrow against cryptocurrencies – all in one place. Abra’s vision is an open, global financial system that is easily accessible to everyone.
Based in the United States, Abra is available in over 150 countries and makes it easy to convert between crypto and a wide variety of local fiat currencies. With over 2MM customers, $7B in transactions processed, and $1.5B in assets under management, Abra continues to grow rapidly. Abra is widely loved and trusted – in April 2022, pymnts.com reviewed and rated Abra amongst the top 5 most popular crypto wallets in the market. Abra is backed by top-tier investors such as American Express Ventures and First Round Capital.
How Abra Protects Your Funds
Abra places clients’ financial objectives and security first. Abra practices a culture of risk management across all levels and functions within the organization.
Abra employs a state-of-the-art enterprise risk management framework that comprises a comprehensive set of policies, procedures, and practices detailing all applicable risk-related objectives and constraints for the entirety of the business. Abra has instituted a complete set of requisite systems and controls that continuously enforce these policies, procedures, and practices to manage all operations, including credit and lending. Abra’s independent Risk Committee comprises experienced compliance, risk, securities, and fraud operations professionals with backgrounds in industries ranging from traditional and digital assets banking, payments, remittance, to fintech.
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