The BTC Payments App Abra Gains A Major Financial Support

It’s been almost a year since the launch of the Bitcoin Payments app called Abra and it has been through several upgradations each one adding new features and bugfixes. Although the app is only operational in few countries as of now, but apparently it has new ventures lined up for the future. Abra recently announced that it has now gained support from more than 60 banks and financial institutions based in the US. While this service isn’t available in other countries, the Abra users in US and Philippines can also add or withdraw funds from the wallet via their bank accounts. Now with the support of 60+ American banks and credit unions, both deposits and withdrawals can be made incessantly in the US.

Also read All New Blockchain Remittance App by Abra.
 

What Is Abra?

Abra is a digital wallet and payment processor that facilitates bitcoin remittances on your smartphone. The Abra app enables you to add funds to your wallet, make easy withdrawals and make transactions on the go. You can feed your Abra wallet with BTC through your bank account, some other wallet or simply by visiting an Abra teller in your area or locality. You can also use the app to transfer funds to your own bank account or someone else’s. The funds can also be transferred to any other bitcoin wallet or exchanges can be made in person by finding a nearby Abra teller. Abra doesn’t impose any kind of transaction fee and can also be used for buying stuff from select online stores.
 

Financial Support

The Abra app is active in numerous countries and it’s already backed by a large number of financial groups from all over the world. And now the company claims that it has got financial support from more than 60 banks and financial institutions. Talking about the numbers, there are 34 banks and 29 credit unions that will now allow their users to add funds to the Abra wallet right from their bank accounts. The list boasts some prominent names like Citibank, Bank of America, Capital One, Suntrust, Union Bank, Wells fargo, Charles Schwab, Commerce Bank and USAA.

As it turns out, United States and Philippines are the only two countries where you can add funds to the Abra Wallet through your bank account. With the support from so many new banks and credit unions, United States has got most number of banks supporting this facility. While on the other hand, there are only three banks in Philippines that let you do the same. But apparently, Abra is expanding at a meteoric pace and we might soon have a change in picture.