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Abra enables stock and ETF investments using bitcoin

Thu, 07 Feb 2019, 03:40 am UTC

Crypto wallet Abra has announced that it is going to offer its customers the opportunity to invest in stocks, commodities, and exchange-traded funds (ETFs) from its app.

Abra founder and CEO Bill Barhydt made the announcement via an online post dated February 06. He said that users would also be able to use bitcoin to make stock investments.

“We’re going to start with popular US stocks and ETFs and add more global assets in the coming months. Of course, all of the great features for investing in cryptocurrencies and fiat currencies remain fully integrated as well.”

Barhydt said that the idea behind this was to offer a one stop shopping solution to Abra users for all their investment needs.

“All people need to do to get started with Abra is to download the app, fund the wallet by using a bank account or by using crypto, and soon with a couple of taps, they can start buying and selling exposure to stocks, ETFs, indexes, gold, crypto, fiat currencies — and more investment instruments on the way,” he explained.

Barhydt said that it has extended the crypto collateralized contract model (C3), which it uses for crypto assets, to work with traditional assets such as stocks and commodities. C3 allows investors to gain investment exposure to any asset by simply using bitcoin as the underlying technology for the investment.

According to the blog post, users who join Abra’s pre-launch list for this investment functionality will be able to secure a special sign up offer of zero trading fees on all equity products for the rest of 2019.

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