Abra, an all-in-one cryptocurrency wallet and trading platform, sent shockwaves through the fintech community on Wednesday when it announced that it will soon be adding stock and ETF investing to its platform.
Available in 155 countries
Fractional investing w/$5 minimums
Private and secure
— Abra (@AbraGlobal) February 6, 2019
Similar to Robinhood, investors can begin purchasing stocks and ETFs investing with as little as $5 through partial stock investing. Additionally, Abra will feature $0 trading fees on stocks and ETFs for everyone who requests early access.
The crypto community’s response to the announcement has been overwhelmingly positive, with many celebrating Abra’s use of Bitcoin as a settlement layer for trading.
Does @AbraGlobal use of #Bitcoin as settlement layer for global trading access-app for stocks, bonds, forex, commodities, etc. establish BTC as dominant force in smart contracts (obviating need for ETH, for example). @HeisenbergCap
— Max Keiser, tweet poet. (@maxkeiser) February 6, 2019
This news comes roughly four months after Abra launched the Bitwise 10 Crypto Index (BIT10), which allows users to gain exposure to around 85% of the entire crypto market with a single investment vehicle. The BIT10 is a market-weighted derivative product that tracks the top coins, including Bitcoin, Ethereum (ETH), and XRP (XRP).
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.