Abra, an all-in-one cryptocurrency wallet and exchange platform, has announced that it will be adding 5 new altcoins to its platform: NEO (NEO), Verge (XVG), Monero (XMR), NEM (XEM) and Lisk (LSK). With the latest additions, Abra now allows its platform users to buy, sell, hold and invest in 25 cryptocurrencies and 50 fiat currencies.
In the press release accompanying the additional altcoins, Bill Barhydt, founder and CEO of Abra, expressed his enthusiasm regarding the value the additional altcoins add to the company’s platform.
“By adding the five new cryptocurrencies to the already robust list of coins that Abra supports, we are continuing to offer exposure to assets that have traditionally been difficult to access in a simple and secure way. The demand from our users for additional altcoins has been incredibly high, and our goal is to continue adding more cryptocurrency options and ultimately democratize access to financial services and all asset classes.”
Being a direct competitor to Coinbase, Abra is actively looking to clearly differentiate itself from the crypto exchange. Currently, Coinbase has limited its exchange listings to only four cryptocurrencies: Bitcoin, Ethereum, Litecoin and Bitcoin Cash. While Coinbase is gearing up for a battle with Gemini and Goldman Sachs-backed Circle for institutional investors, companies like Abra have the opportunity to take back a percentage of the retail markets.
For Abra, this will not come easy as more and more retail investor-focused platforms are entering the market. Just recently, England-based startup Revolut announced the addition of Ripple and Bitcoin Cash to its platform while also raising $250 million to build out its offerings. The Revolut app, which allows users to trade crypto with over 25 different fiat pairs, claims the lowest fees and best exchange rates on the market and will be launching in the United States, Canada, Singapore, Hong Kong, Australia and New Zealand this year
— Abra (@AbraGlobal) May 1, 2018
Abra is already available in the United States, and users can enjoy investments in all 25 available cryptocurrencies.