Hybrid Crypto/Stock Investment Platform Abra Adds Over 200 New Cryptocurrencies

November 13, 2019 / by Crypto.IQ

In addition to the expanded variety of cryptocurrencies, Abra is now allowing deposits and withdrawals of stablecoins including Tether (USDT), True USD (TUSD), Paxos Standard (PAX), and DAI. Further, bank withdrawal and deposit limits have been doubled to $4,000 per day, $8,000 per week, and $16,000 per month, giving investors more flexibility and profit potential. 

Abra, a hybrid crypto/stock investment platform headquartered in California’s Silicon Valley, has announced that they will be adding more than 200 new cryptocurrencies for international users and 60 new cryptocurrencies for United States users. United States users will now have access to 96 cryptocurrencies in total, which covers a large fraction of the most important cryptocurrencies. 

The Founder and CEO of Abra, Bill Barhydt, says “By far, the most requested product feature is support for more cryptocurrencies and the flexibility to easily invest in them. And today, that’s what we are delivering for our users”. It is notable that users are requesting expanded access to cryptocurrency more so than expanded access to stocks. 

Abra is a unique hybrid financial investment platform where users can invest in both cryptocurrencies and stocks as well as exchange traded funds (ETFs), making it possible to directly trade between the stock market and the crypto market. This opens up the opportunity for entirely new trading strategies to be developed based on the behavior of the stock market versus the crypto market. 

Before Abra existed, it would have been an arduous task to trade between stocks and crypto, since the crypto would have to be converted to dollars, withdrawn to the bank, deposited on a stock platform, and then the stocks could finally be purchased. Market fluctuations that happen during that time could nullify any profit potential, and in most cases make it too risky of a strategy. Now with Abra crypto can be converted to stocks instantly and vice versa.