A cryptocurrency and digital asset investment app, Abra is allowing its non-US users to invest in exchange-traded funds and stocks with BTC as collateral. It is to be noted that Abra is having its headquarters in San Francisco, USA and has prominent investors onboard.
Abra mentioned in a tweet that the offering is finally here. The cryptocurrency wallet is offering (non-US users) the capability to invest in and commodities, stocks, and Exchange Traded Funds in more than one hundred and fifty countries. Starting from 30th May, investors can use BTC to make fractional investments in commodities, stocks, and Exchange Traded Funds with zero dollar trading fees, at least for 2019.
Particularly, the crypto wallet is the 1st startup in the United States to divulge such services. The crypto app’s founder and CEO, Bill Barhydt, mentioned that although people in the United States are uncovered to investments in the financial sector, the global population outside the United States is not invested in financial markets. For the CEO of the startup , this is caused by not having affordability or access to these such assets.
On the other hand, Venezuela is among the 1st nations to embrace Abra’s crypto wallet and this development does not come as a shocker. Notably, the nation’s government issued fiat currency, Bolivar, is facing massive inflation and instability which has already goneout of control. Hence, BTC and other virtual assets come as a savior for Venezuelan people.