Crypto Wallet Abra To Enable Investment In Stocks And ETFs Using Bitcoinbr>
Mobile cryptocurrency wallet Abra has introduced a new product that allows its users who live outside of the United States to make fractional investments in stocks and exchange-traded funds (ETFs) using bitcoin.
In a blog post, Abra announced that investors from 150 countries will soon be able to invest in popular 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 using bitcoin, with a minimum of $5 per investment.
Bill Barhydt, CEO and founder of Abra, said that this is a major milestone in realizing Abra’s mission of democratizing access to financial services for everyone, especially in markets and communities that have traditionally been excluded from such opportunities.
“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,” Barhydt said.
Willie Wang, VP of product at Abra, said that tens of thousands of investors from across the globe have already signed up for the waitlist to access this new product, which will be available right next to Abra’sgrowing list of crypto assets.
“We’re excited to see which assets are most in demand globally and will continue to add assets as we collect feedback from users,” Wang said.