American crypto company Abra has announced the implementation of a new feature to its blockchain mobile application that will enable users to make bitcoin investments in traditional financial instruments.
Pursuant to the company, with the update of the application, it will become possible to use the bitcoin blockchain and smart contracts for investments in shares and exchange-traded funds (ETF).
According to Abra's spokesperson, the new feature is available in 155 countries. Besides, investments in stocks and ETFs will not be subject to any fees throughout 2019 for those who sign up for early access. For now, about 6,000 customers want to get early access, partially encouraged by quite attractive low-limits at $5.
Initially, the application will support 50 assets, including shares of the global giants Facebook, Apple, Amazon, Google, Netflix as well as such ETF's as the SPDR Gold Trust, Vanguard Growth and S&P 500, and indices, like Russell 2000. It already allows investing in 50 fiat currencies and above 30 cryptos.
The application Abra features a "non-custodial model that secure ensures your funds are private, secure, and always in your control", as the company website reads. Such an approach helps to boost protection of the transactions against that of the centralized databases applied by the bulk of crypto trading platforms and custody service providers.
The company noted that the blockchain capabilities enable it to peg any reliable asset to the Bitcoin price.