Popular platform Abra is now offering exposure to stocks, using Bitcoin

06 Feb, 2019 | Updated: 06 Feb, 2019
by David Borman
Popular platform Abra is now offering exposure to stocks, using Bitcoin

It is being reported by CryptoGlobe that popular trading platform Abra has just announced that they will be offering users exposure to traditional stocks using Bitcoin and smart contracts. This should bring a much broader asset market to users who never could have participated before.

Users will initially be offered exposure to various big name stocks, like Google and Facebook, as well as a selection of ETFs. The plan is to continue to expand what is being offered over time.

All of this is made possible with "Crypto Collateralized Contracts" (C3s), which can peg the value of any asset being traded to the price of Bitcoin.

In the article, Bill Barhydt, the Abra's CEO, is quoted:

"We are building Bitcoin-backed investing products because, for the first time, we can truly democratize access to investment opportunities at global scale. It shouldn’t matter where you live or how much you earn to be able to make investments and participate in capital markets. We’re excited to allow anyone to start investing in global equity products and take control over their savings."

This is arguably a huge step forward for users who have no means to access traditional markets, and could also be a boon for the adoption of Bitcoin, if it can serve as an on ramp to investing for new users. Stick with Chepicap for any updates as this exciting new investment option rolls out!

Follow Chepicap now on Twitter, YouTubeTelegram and Facebook!


Are you currently an Abra user?

(1 votes)

Add a comment

Check out the latest news

You will be logged out and redirected to the homepage