In the wake of the current bull run led by Bitcoin [BTC], the world’s largest cryptocurrency received another major validation at press time.
According to an announcement by Abra, a global investment app, it is set to launch a brand new feature in their app, one which will allow people outside the United States to make fractional investments in stocks and exchange-traded funds [ETF], with the help of Bitcoin.
Bill Barhydt, a major Bitcoin [BTC] proponent, stated that people outside the United States were not able to invest in financial assets due to the issues of access and convenient affordability.
“Abra is addressing this global inequality by allowing more people to have a stake in financial markets.”
With the help of this feature, people who own a fraction of Bitcoin would now be able to access Abra’s platform to buy value stocks and ETFs with a minor investment of only $5.
Some of the major stocks which users will now be able to invest in include the likes of Tesla, Uber, Apple, Amazon, Google and Berkshire Hathaway.
Bill Barhydt added,
“On the backend, this new technology is based on a non-custodial bitcoin wallet, and the exposure to assets like stocks and ETFs happens via a crypto-collateralized contract. We believe that cryptocurrency technology such as bitcoin can serve as a new platform to solve these problems of access and trust.”
On the back of the recent rally, this announcement is very encouraging for Bitcoin [BTC] and the rest of the cryptocurrency community. This development indicates that the virtual asset class is attaining maturity from a long-term economic standpoint. The general sentiment towards crypto as a whole is also developing positively, and is an indication of crypto’s steady growth in 2019.
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