Abra Expands to 96 Crypto Assets for US Owners
The revamped app offers access to even more digital coins with the option to invest directly.
The Abra app offers the option to directly invest in 96 digital assets. This may boost retail interest in niche altcoins, through a well-known hub of fintech and crypto activity.
The 96 new currencies are available for US-based users. For worldwide users, Abra is preparing an expansion to 200 assets.
Abra has also opened the doorway for more retail liquidity flowing in. Stablecoins TrueUSD (TUSD) and Paxos are immediately available, and in December the app will give access to the leading Tether (USDT) asset, as well as DAI, the leading algorithmic stablecoin.
Abra has also upped the limits for US buyers to $4,000 per day, $8,000 per week and $16,000 per month. Abra has been present in 150 countries, and is one of the few hubs where BTC can be acquired with a credit card. The app, however, offers no payment services for residents of the state of New York.
Altcoins remain highly risky, and most assets have fallen out of favor. However, communities have built around new coins and tokens, and stablecoins are becoming additional gateways for payments. Abra combines a chance to risk with crypto assets, plus exposure to new types of coins and tokens.
US buyers will also meet with some restrictions, regarding previously available assets. The excluded coins and tokens list EOS, Bitcoin Gold (BTG), OmiseGo (OMG), and QTUM (QTUM). Other coins on the app do not offer the same risk for being considered unregistered securities. Abra, however, continues to list Augur (REP), despite concerns of its legality in the US. EOS, on the other hand, received the verdict of serving as an unregistered security, especially during the time of the Block.ONE ICO.
Abra also offers limited liquidity for all assets, by offering in-app exchanges. Anonymous coins are also present, though in-app transfers are not the same as anonymous transfers of Monero (XMR), ZCash (ZEC), or Verge (XVG).
The Abra app has chosen to expand into multiple altcoins, based on a diversity of technologies and the potential to improve the crypto space by competition.