Abra seems to have hit the jackpot with its revolutionary new find. This exchange is set to become the world’s first multicryptocurrency exchange and wallet. This is courtesy of its ability to support up to 50 fiat currencies and 20 different cryptocurrencies in a single app. This is in addition to real-time exchange services in all 70 currencies, thus ensuring that users sell, buy or store any of them within the app, and can make unlimited exchanges.
With this development in place, Abra has become one of the first of its kind in the world to feature this all-in-one Smartphone application. This has seen many express excitement to be part of this platform. One of these, Ripple, tweeted about it in the morning, saying that they are elated to see XRP added to the new mobile wallet of Abra.
The same sentiments were also shared by Charlie Lee, the founder of Litecoin. He reckons that Abra chose them over Bitcoin Cash due to Litecoin’s security features and the fact that they adhere to the scalability roadmap of Bitcoin.
Global Funding Now Possible
Users in the United States can now fund wallets all across the world with ACH, Bitcoin or through bank wires, with the support of American Express. This has greatly cut down on the process and the steps needed. As of now, there is no need to have additional KYC details as all that is needed to deposit is their phone number. In fact, they have also intimated that other additional features like native support for Ether and Litecoin deposits will be available soon. However, the best feature thus far is the fact that you do not incur any transaction fees.
Technology Taking Center Stage
Abra has been able to achieve this breakthrough based on the technological design behind it. It supports both crypto and fiat using a blend of BTC and LTC-based contracts. This has seen most crypto users express enthusiasm. One of these is Jonathan Bem, who says:
This is awesome; I am very impressed with the quick responses from the development team. We will definitely look into your android exchange.
With such enthusiasm, this should be a wakeup call to the rest of the exchanges.
What do you think about Abra’s move to integrate both fiat and cryptocurrencies into its platform? How relevant is this to the industry? Let us know your views in the comments section below.