Cryptocurrency wallet app Abra announced new features allowing everyone, everywhere in the world to invest in traditional stocks, commodities and exchange-traded funds or ETFs using Bitcoin.
The company plans to start with popular US stocks and ETFs and add more global assets in the coming months. These major stocks include Facebook, Apple, Amazon, Google, Netflix, and commodities such as SPDR Gold Trust, among others.
The US-based firm announced early access registration to the platform. This would allow users in 155 countries to invest in 50 new traditional investment assets with zero trading fees throughout 2019 using bitcoin.
In its website, Abra has stated that it allows one to securely invest in 30 cryptocurrencies, 50 fiat currencies, and very soon global stocks and ETFs – all from one app.
The stocks and ETFs investment features in the Abra platform are based on a new investing model called Crypto Collateralized Contracts or C3s. This allows investors to make investments in any asset by using Bitcoin and smart contracts.
Abra CEO Bill Barhydt said, “At Abra, we already have low-income families in the Philippines and rich venture capitalists in the US using our app to invest in cryptocurrencies. Now we’re giving our customers access to the same investment products that everyone in the US has enjoyed for decades.”
