Crypto Breakthrough: Abra Uses Bitcoin (BTC) to Let Anyone in the World Buy US Stocks
Crypto wallet and exchange app Abra has launched its hybrid investment channel, allowing individuals to make purchases of listed stocks, exchange-traded funds (ETFs) and commodities with Bitcoin.
The new feature allows non-US investors in over 150 countries to purchase high-demand financial products in amounts as little as $5 without any fees.
According to the announcement,
“Fractional amounts of valuable stocks from global markets such as Tesla, Uber, Alibaba, and Facebook – as well as ETFs like the gold SPDR, and indexes like the S&P 500 are now available to investors in over 150 countries.”
Abra says its mission is to democratize access to finance. Investors in countries that have been excluded from participating in the S&P 500 can now transcend borders and make investments on the go using crypto and their smartphones.
“While there are certainly no guarantees, investing regular amounts over long periods of time in traditional equities markets has proven to be an effective investment strategy, and now we’ve made that really easy and accessible to billions of people.”
Earlier in the month, Abra announced new withdrawal features that allow all users to withdraw 30 different types of cryptocurrencies to external wallets. Supported cryptocurrencies include Ethereum Classic (ETC), Doge (DOGE) and Dash (DASH).