Abra adds new features to simplify crypto buying, selling, spending and withdrawals

Global investment app Abra has announced new features that will make it easier for users to buy and sell crypto assets.

Abra said that U.S.-based users will now have more options to connect their bank accounts, made possible through Plaid integration.

Abra users in the U.S. and European Union can currently fund their wallets via bank ACH transfer. In its press release, Abra announced its partnership with Plaid and said that the integration will increase the number of U.S. financial institutions available in-app for funding investments from dozens to thousands.

“Consumers need to be able to invest their money wherever they choose, regardless of where they bank. With increased funding sources available for connection, Abra broadens the investment options for people who bank with smaller institutions and expands access to the cryptocurrency ecosystem,” said Paul Williamson, Head of Sales at Plaid.

Adding to Abra’s current deposit and withdrawal support of Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC) and Ethereum (ETH), the company announced native withdrawal support capabilities for the rest of its 26 cryptocurrencies listed in the app.

Abra is a non-custodial platform, meaning that it does not collect, store, or have access to users’ funds. Instead, the funds are stored in the Abra wallet which is held privately on each user’s phone, making transactions more secure and private. With the addition of Abra’s expanded crypto withdrawal capabilities, users will now have even more options for storage, including hardware wallets and other secure cold storage methods.

While withdrawal support is being rolled out immediately, Willie Wang, Abra’s VP of product, said that deposit support will be added in the near future.

"With today’s announcement, Abra is taking yet another step closer to our vision of democratizing access to financial services for our hundreds of thousands of customers around the globe,” said Bill Barhydt, CEO, Abra. “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.”