Abra, a U.S.-based all-in-one cryptocurrency wallet and exchange, announced on Wednesday it has expanded support for the Ethereum platform by adding native integration of Ethereum’s currency, ether (ETH). Abra users may now deposit, invest, and withdraw ether directly from the Abra app.
Abra reported that prior to the expansion, Ethereum (ETH) was available on its platform as a synthetic asset, which means that users were able to have exposure to the price movements of ether, and users could only make deposits into the Abra app through a US-based bank account, American Express card, bitcoin, bitcoin cash or litecoin. This latest level of support also adds the ability for Abra users to directly deposit and withdraw ether (ETH) through any other ethereum wallet. While sharing more details, Bill Barhydt, CEO and Founder of Abra, stated:
“By adding native ether support, Abra users will now be able to easily buy and move ether from other wallets to the Abra app. This also opens up the potential to use ETH as an on-ramp to invest in the other assets listed on Abra.”
Joseph Lubin, Co-Founder of the Ethereum project and Founder of Consensys, went on to add:
“Hundreds of thousands of technologists and developers around the world are working to build applications and platforms that will bring the potential of Ethereum’s decentralized world to life. And while ether was intended to be the fuel that powers applications on the Ethereum platform, we are moving into a world where an enormous variety of tokens can start to be used on the payment side of a transaction. We’re thrilled to see the elegant Abra non-custodial wallet natively support ether and Ethereum as another powerful step towards integration amongst various cryptocurrencies, crypto tokens, and state-issued money via banks and credit cards.”