Bitcoin News — Abra

Abra Wallet and Exchange Service Introduces Token That Tracks Crypto Index

Posted by Ana Alexandre on

Digital wallet Abra has announced that its users can now invest in the new BIT10 token, which tracks the Bitwise 10 Large Cap Crypto Index.

Digital currency wallet and exchange Abra has launched support for a new token, BIT10, that tracks the Bitwise 10 Large Cap Crypto Index, according to an announcement published Oct. 3.

The Bitwise 10 Large Cap Crypto Index was developed by cryptocurrency asset management firm Bitwise Asset Management and is reportedly listed exclusively on Abra. The index tracks the ten largest cryptocurrencies by market capitalization, currently representing 80 percent of the total crypto market capitalization.

Per the announcement, any investor is now able to acquire the BIT10 token through the Abra app, with a $5 minimum investment. Hunter Horsley, the CEO at Bitwise, said:

"Index investing is extremely popular in stocks, bonds, and crypto because it gives investors diversified exposure without having to constantly monitor news and try to predict which assets will be most valuable. So far in the crypto space, index investing has only been available to institutions and accredited investors."

The cost of each BIT10 token reflects the value of 10 coins in the index, while the token’s positions are reportedly held in multi-signature smart contracts on the Bitcoin (BTC) or Litecoin (LTC) blockchains. The press release further explains the operational principle:

“Once invested, Abra and the user are entering into a smart contract that effectively pegs the asset invested (either fiat currency or cryptocurrency) to the same amount of BIT10 tokens. Abra will get a real-time price feed from Bitwise Asset Management and the BIT10 investor will see the market movement up or down reflected in the price of their BIT10 tokens.”

Last month, Abra enabled the direct purchase and sale of cryptocurrencies for European bank accounts. Customers can now transfer euros or several other national currencies directly to their wallet which can, in turn, can be converted into the 28 cryptocurrencies supported by Abra.

In March, Abra’s CEO Bill Barhydt forecasted that “all hell will break loose” in BTC and altcoin markets this year. Barhydt said that he talked with hedge funds, high networth individuals, and speculators, who saw a “huge” opportunity in the volatility in the crypto markets. “Once that happens, all hell will break loose. Once the floodgates are opened, they're opened,” Barhydt added.

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Abra Is Launching a Crypto Token Tied to an Investment Fund

Posted by Nikhilesh De on

Crypto wallet Abra is launching a token to let investors get involved with multiple cryptocurrencies at once.

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Abra App Launches Support for Bitcoin Cash Deposits and Withdrawals

Posted by Avi Mizrahi on

Abra App Launches Support for Bitcoin Cash Deposits and WithdrawalsUsers of the cryptocurrency exchange and wallet app Abra can now make deposits and withdrawals to their accounts with bitcoin cash (BCH). Bill Barhydt, the founder and CEO of the company, also published a video chat with Bitcoin.com CEO Roger Ver about bitcoin cash. Also Read: The Daily: Shapeshift Shuts Down Prism, Jamie Dimon Wants to […]

The post Abra App Launches Support for Bitcoin Cash Deposits and Withdrawals appeared first on Bitcoin News.

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Abra CEO: SEC Denies Bitcoin ETFs Because Applicants Do Not Fit Industry Archetype

Posted by Ana Alexandre on

The CEO of Crypto payment firm Abra said that the SEC rejects BTC ETFs because “people who are doing the applications don't fit mold of who the SEC is used to approving."

The reason the U.S. Security and Exchange Commission (SEC) has insofar denied crypto exchange traded funds (ETFs) is because the crypto industry does not fit the applicant archetype, according to the CEO of crypto payment startup Abra, CNBC reported September 4.

Speaking in an interview with CNBC’s “The Coin Rush,” Bill Barhydt suggested that the SEC has rejected crypto ETF applications because “people who are doing the applications don't fit mold of who the SEC is used to approving."

Barhydt said that in order to receive approval for an ETF, there should be an applicant who “looks, feels and smells” the way the SEC expects them to. He further noted that a trusted financial organization has better chances to get approval than a startup or a relatively unknown company. Barhydt predicted that the SEC will finally approve a Bitcoin (BTC) ETF next year:

"It's going to happen in the next year, I would actually make a bet on it. There is too much demand for it."

Barhydt’s statements follow some widely publicized rejections of Bitcoin ETF applications. In July, the SEC denied an appeal for the application of a Bitcoin exchange-traded fund by brothers Tyler and Cameron Winklevoss. On August 7, the regulator postponed its decision on the listing and trading of a BTC ETF from investment firm VanEck and financial services company SolidX until September 30.

Last month, Pantera Capital CEO Dan Morehead suggested that a BTC ETF would take “quite a long time,” saying that crypto adoption was still in its early stages. Morehead noted that the most recent asset that gained approval from the SEC for ETF certification was copper, a metal that “has been on earth for 10,000 years.”

Bitcoin is trading at $7,377 at press time, up more than 1 percent on the day, according to Cointelegraph’s Bitcoin Price Index.

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Crypto Wallet Abra Announces Direct Transactions From EU Banks in SEPA

Posted by Ana Berman on

Abra now offers 28 digital currencies to all SEPA countries, allowing residents to transfer euros or other national currencies directly to the wallet.

Global crypto wallet Abra has enabled the direct purchase and sale of cryptocurrencies for European bank accounts, according to a press-release published by PR Newswire Tuesday, September 4.

Abra, which offers 28 cryptocurrencies for consumers worldwide, will now support Single Euro Payments Area (SEPA) bank accounts. As the company’s official Twitter states, the launch of in-app European bank purchases of digital currency has already started.

Customers can now transfer euros or several other national currencies directly to their wallet which can, in turn, can be converted into the 28 cryptocurrencies offered by Abra including Ethereum (ETH), Litecoin (LTC), and Ripple (XRP).

Bill Barhydt, founder and CEO of Abra, further explained the innovation:

"With users from over 70 countries globally, and a greater demand for the ability to invest in cryptocurrencies from any bank account, it is really important to give investors the opportunity to fund their Abra wallet directly from any bank account."

Along with backing SEPA bank accounts, Abra has announced three new coins recently added to the wallet: Cardano (ADA), Basic Attention Token (BAT), and Tron (TRX).

Until today’s announcement, the Abra wallet could only be funded by U.S. bank and wire transfers in the United States, along with American Express, Visa, and MasterCard debit and credit cards around the world.

The Single Euro Payments Area (SEPA) is a payment system that simplifies bank transfers in the EU. Currently, it includes 28 EU members, together with the four member states of the European Free Trade Association (Iceland, Liechtenstein, Norway, and Switzerland), and Andorra, Monaco, and San Marino.

As Cointelegraph reported back in March 2018, major U.S. crypto wallet and exchange Coinbase received an e-money license from the UK Financial Conduct Authority (FCA) to conduct its fiat activities in Great Britain, as well as in the 23 countries within the European Union. It was not immediately clear if Coinbase could keep the EU license in the future due to Brexit.

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