Abra announces plans for US bank supporting digital assets
Abra announced its international venture and U.S. bank would work with officials to ensure regulatory and legal compliance and planned to launch in 2022 and 2023, respectively. Cryptocurrency trading platform Abra said it was “in the process of” establishing a United States-based state-chartered bank allowing clients to deposit digital assets.In a Monday announcement, Abra said the bank, named Abra Bank, would be regulated to operate within the U.S. and give customers the ability to use digital assets in seemingly the same way as fiat at traditional banks. The company also planned to....
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Renowned remittance application Abra announces Bitcoin support. Abra announced the next phase of its global expansion at the North American Bitcoin Conference today. The plans are to enable Abra worldwide next month, activating global network of Tellers who can transact in over 50 currencies, including directly in Bitcoin. This means that anyone with a smartphone in any country can send or receive funds in most major currencies and can cash in or out of their Abra wallet, even without a bank account. Bitcoin has been a large part of and the key to Abra’s efforts, albeit not always....
The Abra team has a plan to expand the availability of their mobile apps to different countries in the coming months. Abra is a Bitcoin remittance application a lot of people seem to have high hopes for. Ever since the company raised money to bring their project to the masses, things had gone quiet. But it appears the Abra app has now launched for both iPhone and Android, albeit it is still limited to the US and the Philippines only. Remittance solutions are always in high demand, especially when the Filipino community is involved. A lot of Filipinos work overseas and send money back home....
Abra, a non-custodial bitcoin wallet app that allows people to send money for free from their bank accounts, is now available in the U.S. and the Philippines, the Mountain View, Calif.-based company announced on its website. Abra is available on iPhone and Android in the U.S. The company’s goal is to be a global financial inclusion app for the expanding cross-border remittance market. A U.S. user can add cash to their Abra wallet from any major bank account, then send it for free to any phone number in the U.S. or the Philippines via the bitcoin blockchain. Recipients can withdraw the....
Bitcoin remittance app Abra recently confirmed raising $12 million in a new venture financing round. The Series A round drew support from noted investors like Arbor Ventures, RRE Ventures and First Round Capital. Other investors that took part in the funding are Blockchain Capital, Digital Currency Group, Liberty City Ventures, etc. The total valuation of Abra, upon receiving the new funds, has now reached $14 million. Announced in March this year, Abra is a brainchild of a seasoned technology entrepreneur Bill Barhydt. The former Netscape director said during the launch that he is looking....
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