Abra Adds Native Support for Ethereum

The platform also has plans to extend its services for ERC-20 tokens.

Crypto service provider Abra has added native Ethereum support to its platform.

This development has enabled the cryptocurrency wallet and exchange users to receive, hold, sell, and buy Ethereum directly on the platform. Users can even trade other digital assets listed on the trading platform with the newly listed altcoin.

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The platform, till now, allowed deposits using US-based bank accounts, American Express cards, Bitcoin, Bitcoin Cash, and Litecoin. Though the platform did not support Ethereum, it listed a “synthetic” version of Ether, which exhibited the actual market price movement of the coin, but the user was not holding any digital currency on the Ethereum blockchain.

Mentioning this development, Bill Barhydt, founder and CEO of the digital asset exchange, stated: “By adding native ether support, Abra users will now be able to easily buy and move Ether from other wallets to the Abra app. This also opens up the potential to use ETH as an on-ramp to invest in the other assets listed on Abra.”

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“This is Just the Beginning”

Along with the native Ethereum support, the platform also has other plans to expand its services as Willie Wang, vice president of the company, stated: “In the near future, we will offer native deposit and withdraw support for the other ERC-20 tokens currently listed on Abra, in addition to other new tokens that we will now be able to list.”

The fiat-to-crypto trading platform now lists over 30 digital assets and 50 fiat currencies. Last October, the firm also launched a cryptocurrency index called BIT10, which tracks the ten largest cryptocurrencies by market capitalization.

In addition, to lure the crypto traders, the platform is offering $25 worth Ether to all new customers purchasing at least $5 worth cryptocurrencies on the platform till March 31st.

Meanwhile, the blockchain-based platform recently added support to buy fractions of mainstream financial instruments including stocks and exchange-traded funds (ETFs).

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