Image: Abra supports 25 cryptocurrencies
Digital wallet and exchange service Abra[1] has announced the addition of five cryptocurrencies to its platform, now letting users buy, sell and invest across 25 cryptocurrencies and 50 national currencies, the company announced on Tuesday.
Monero, NEM, NEO, Lisk and Verge are joining 20 other cryptocurrencies including Bitcoin, Dash and Ethereum. The move follows the addition of seven cryptocurrencies[2] which Abra added just last month as the company looks to provide customers with the widest range of cryptocurrencies as well as the easiest way for them to gain access to this emerging market.
Bill Barhydt, founder and CEO of Abra, said that by adding five other cryptocurrencies to the already robust list of cryptocurrencies Abra supports, the company continues to offer exposure to assets that have traditionally been difficult to access in a simple and secure way.
“The demand from our users for additional altcoins has been incredibly high, and our goal is to continue adding more cryptocurrency options and ultimately democratize access to financial services and all asset classes,” Barhydt said.
Founded in 2014, Abra is a non-custodial wallet[3] supports both conventional currencies such as USD, EUR and JPY, as well as cryptocurrencies. The platform uses Bitcoin and blockchain technology to allow users to deposit, withdraw and transfer funds using a digital cash wallet stored directly on their smartphones. The model is entirely peer-to-peer with no middleman ever holding, managing or touching the funds at any point in any transaction.
Abra built a platform using stablecoins that facilitates holding both national currencies as well as cryptocurrencies through a combination of Bitcoin and Litecoin based smart contracts. This multi-signature smart contract-based investment platform uses P2SH scripts on the Bitcoin and Litecoin blockchains that simulate investment contracts
