Mobile application provider Abra has announced an interesting expansion of the functionality of its product.
The company added the possibility of investing with the help of Bitcoin and other cryptocurrencies in traditional financial instruments, such as stocks of companies, including Apple’s, Facebook’s ones, and Exchange Traded Funds (ETF).
The new functionality will be available in 155 countries worldwide. There are incentives for investors. Investments in stocks and ETFs will not be subject to taxation during this year (2019). Also, 2019 will be fee-free. Users will be able to buy about 50 investment instruments, in particular, stocks of Netflix and Amazon, not to mention Apple and FB. Investing is possible with as little as $5.
This is a good step to the promotion of cryptocurrencies. People in some countries don’t have a freely accessible possibility to buy stocks of foreign countries due to restrictions and limitations of central banks. Crypto allows them to circumvent these limitations. This news should increase people’s attention not only to the shares of large companies but also to the cryptocurrency itself.
By the way, in 2018 Gwyneth Paltrow promoted an article by Bill Barhydt, an exchange operator of Abra.