A new partnership with Plaid and withdrawal support for more cryptocurrencies
The road to cryptocurrency mass adoption will be paved by technology and design that makes moving money easier.
In that spirit, starting today Abra is making it easier for users in the United States to convert USD to crypto by connecting and being able to seamlessly transfer funds to the Abra app.
This greater ease of use is thanks to a new banking integration made possible by the San Francisco-based fintech company, Plaid.
Plaid makes it easier for people to connect their bank to financial apps, like Abra. For Abra users, the Plaid integration means that now thousands of banks are easily compatible with the Abra wallet.
“With today’s announcement, Abra is taking yet another step closer toward our vision of democratizing access to financial services for our hundreds of thousands of customers around the globe,” said Abra founder and CEO Bill Barhydt. “The addition of these new liquidity enhancements in our app gives users more ways to move between crypto and fiat. We’re particularly excited about our partnership with Plaid, which brings thousands of additional financial institutions into the Abra ecosystem for US customers.”
Enabling easy withdrawal of 30 cryptocurrencies
Along with the new Plaid integrations in the United States, Abra users everywhere will also have the ability to now withdraw more of the cryptocurrencies held in an Abra wallet to supported external crypto wallets.
Adding to Abra’s current deposit and withdrawal support of Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC) and Ethereum (ETH), now Abra users will be able to withdraw more cryptocurrencies to external wallets.
The new withdrawal capability is now live for 0x (ZRX), Augur (REP), Basic Attention Token (BAT), Dash (DASH), Digibyte (DGB), Doge (DOGE), Ethereum Classic (ETC), Golem (GNT), Lisk (LSK), Neo (NEO), OmiseGo (OMG), Qtum (QTUM), Status (SNT), Stratis (STRAT), Tron (TRN), Vertcoin (VTC), and Zcash (ZEC).
The goal of these integrations and upgraded functionality is to make the investment and use of cryptocurrencies more fluid and easier to access for more people all over the world.
The Abra team is also working hard to create the ability to easily deposit your favorite cryptocurrencies directly into an Abra wallet.
Please note: This latest withdrawal news is best characterized as synthetic withdrawal. In the background the synthetic asset is being held as bitcoin, so the withdrawal is subject to a bitcoin network fee. Looking for more info? Check out this FAQ.
And there are lots of other exciting announcements coming soon. Stay tuned!
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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.
Please visit our FAQ to learn more.