Crypto Wallet Abra to see a wave of new European Customers 22301
News
Aakash Athawasya
Sep 4, 2018 at 1:00 PM

In March 2018, Abra announced the new version of their mobile application in which their users can buy, sell or store 20 cryptocurrencies and 50 fiat currencies with no limitations. Now, the crypto wallet has opened a new avenue to help channelize deposits, European Bank Accounts.

Single Euro Payments Area or SEPA, which covers the entire of the European Union and other non-EU states like Norway, Iceland, Switzerland, Liechtenstein, Monaco and San Marino, residents can now transfer the predominant euro or other national currencies directly to Abra, the latter will deposit bitcoin information into the customer’s digital wallets using the new feature. Abra is also including support features for bitcoin cast, as reported by Barhdt.

Abra has expanded their coin base by including Cardano (ADA), Basic Attention Token (BAT), Tron (TRX) among the 25 others already present. Their customers can convert the Bitcoins (BTC) present in their digital wallets to any of the aforementioned coins. Bitcoin and Litecoin were the main ways of funding before.

To increase its pool and build a bridge with European Banks, Abra is working with Coinify, the online virtual currency payment processor. Bill Barhydt, the CEO told CoinDesk:

“Abra works with regulated exchange partners in different territories who take our customer’s personal identifying information and process deposits, withdrawals and bitcoin purchases. Abra is working with Coinify as our first partner in Europe to enable European bank integration via SEPA … Users in Europe now have the option of doing a SEPA bank transfer from their European bank account directly to Abra’s exchange partner which will cause the equivalent amount of bitcoin to be added directly to the user’s Abra wallet.”

Bank or wire transfers were the means of transferring money to the digital wallets or purchase the said digital currencies using Visa, Mastercard, and American Express debit or credit cards, prior to this move by Abra.

See also: Ethereum co-founder Vitalik Buterin shares his view on Plasma, sharding & layer-2 solutions

See also: World’s Largest Bank to implement Blockchain Technology

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