Crypto Wallet Abra Adds In-App Support for 'Thousands' of US Banks
Crypto wallet Abra now let users connect to “thousands” of U.S. banks. It's also added withdrawals for all 30 supported cryptos.
Cryptocurrency wallet and investment app Abra now allows users to connect accounts from “thousands” of U.S. banks, the firm announced Thursday.
The expanded bank options come courtesy of an integration with Plaid, a fintech service that enables applications to connect with users' bank accounts using APIs.
Until now, Abra users in the U.S. and EU have had the option to fund their wallets via a bank transfer. With the new feature, they will have banks connected in-app for funding their purchases.
Bill Barhydt, CEO of Abra, said:
“Consumers need to be able to invest their money wherever they choose, regardless of where they bank,” said Plaid’s head of sales, Paul Williamson. With the integration, Abra users who bank with smaller institutions will have more investment options, he said.
In the same announcement, Abra said it has expanded native withdrawal support to all 30 supported cryptocurrencies. Previously, it users could withdraw only bitcoin (BTC), bitcoin cash (BCH), litecoin (LTC) and ether (ETH).
With the extra withdrawal options, users will have more options for storing their holdings, including hardware wallets, the firm said.
Abra is also expecting to expand crypto deposit support “in the near future,” the firm’s VP of product, Willie Wang, said.
Notably, the firm will soon allow global users to buy fractions of traditional investment instruments.
Back in Februry, Abra said its app will utilize the bitcoin blockchain and smart contract technologies to support fractional investments in stocks and exchange-traded funds. The app currently offers investment in 50 fiat currencies and 30 cryptocurrencies.
Abra image via CoinDesk archives
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.