Abra adds stocks and ETFs to its cryptocurrency app.

[Paha87]

Abra, representing the cryptocurrency wallet application of the same name, has added access to secured equity and ETF investments for its users. This means that users of the exchange and wallet application from 155 countries will be able to trade popular us stocks and commodities, such as gold, and even use cryptocurrency for this.

Abra has announced that the new service will begin with the introduction of popular us stocks and ETFs, and the company also promises to add more global assets in the coming months. CEO of the platform bill Barhydt said::

Many consumers in the U.S. and other countries already have access to stocks and mutual funds through online brokers. However, many people (in fact billions) are closed to these investment opportunities because of their geographical and financial position or lack of accredited investor status, income levels, or lack of trust in local financial institutions.

Abra is used by both low-income families in the Philippines and wealthy venture capitalists in the US. Now we give our clients access to the same investment products that everyone in the US has used for decades.

Security in crypto

Abra explains that it can offer new functionality using the same "cryptographic security contract model" that the company uses for digital assets.

Cryptocurrency contracts allow an investor to access any asset using cryptocurrency as the primary technology for investment. When a trader buys such a tool, he actually creates a smart contract that automatically determines the transfers and earnings on them based on the price of the underlying asset.

This model also means that the company faces a certain risk in case the trade goes against it.

"Simply put, Abra takes the risk," he said Barhydt. "However, Abra hedges our risk on these contracts in the open market at the moment when the consumer initiates the investment. Abra has already successfully processed these investment contracts for hundreds of millions of dollars and has never lost money on them."

Link - https://altstake.io/news/abra-dobavlyaet-akcii-i-etf-v-svoe-priloghenie-dlya-kriptovalyuty