Abra, a crypto wallet and exchange startup, is now opening its doors to a new deposit –the European bank account.
Residents in the Single Euro Payments Area (SEPA), as well as additional countries in the European Union, are now able to transfer euros or other national currencies directly to Abra. The system will later add deposits from bitcoin into users’ digital wallets.
Clients should then be able to change their BTC into a vast array of cryptocurrency options, currently accessible through the app are ADA, BAT, and TRX and additionally the 25 coins already registered.
SEPA standards provide for citizens in any country in the European Union, as well as Iceland, Norway, Switzerland, Lichtenstein, Monaco and San Marino, to make cross-border payments via direct debit purchases.
Bill Barhydt, Abra’s crypto payment processor Coinify‘s CEO stated: “Abra works with regulated exchange partners in different territories who take our customer’s personal identifying information and process deposits, withdrawals and bitcoin purchases. Abra is working with Coinify as our first partner in Europe to enable European bank integration via SEPA … Users in Europe now have the option of doing a SEPA bank transfer from their European bank account directly to Abra’s exchange partner which will cause the equivalent amount of bitcoin to be added directly to the user’s Abra wallet.”
In addition to this new opportunity, consumers can finance their wallets using a bank or wire transfer inside the U.S., or, as another option purchase cryptocurrencies with American Express, Visa, and Mastercard debit or credit cards. Besides providing access to SEPA for the account-holders, according to Barhdt, Abra is also supporting for bitcoin cash deposits. Formerly, clients could only finance their wallets using bitcoin or litecoin.
Author: Berna Bayindir
Photo Credit: ShutterStock