Abra, Simplex launch campaign for crypto credit card purchases with reduced fees

Global investment app Abra, in collaboration with payment processing company Simplex, has announced a limited time promotion to help investors around the word easily convert fiat-to-crypto using a credit card with reduced fees.

Abra entered into a partnership with Simplex in July 2018, allowing bitcoin purchases via VISA or MasterCard credit card or debit card through its platform.

The latest campaign is aimed at increasing the adoption of digital currencies to access new stock and ETF investing features on Abra. The promotional period will run until August 31, 2019, enabling investors to start investing in digital assets using a credit or debit card for a reduced, 4% transaction fee.

“One of the biggest obstacles for the mass adoption of cryptocurrency is the ease of actually buying the cryptocurrency,” said Bill Barhydt, founder and CEO of Abra. “Our integration with Simplex provides fast and easy access to crypto for users around the world using a credit or debit card. Once purchased, users can start investing in any of the 100 assets on Abra, including popular stocks and ETFs.”

“We fully support Abra’s mission of global financial access with its recent launch of stock and ETF investing capabilities,” said Nimrod Lehavi, co-founder and CEO of Simplex. “We’re excited to offer this promotion to help more investors access this revolutionary new product.”

The announcement follows Abra’s recent launch of a new equities investment feature, which enables investors in over 150 countries to make fractional investments in such popular stocks like Tesla, Facebook, Apple, Netflix, Google, and recent IPOs such as Uber and Lyft.