Cryptocurrency wallet Abra has recently announced that it is expanding its services to allow users to connect accounts from “thousands” of U.S. banks.
Abra is using a recent integration with Plaid, a fintech services that lets apps connect with users’ bank accounts via application programming interfaces (APIs), to power their expanded services.
No need for bank transfers
This new feature will let Abra users connect their bank accounts in-app to fund purchases. Users in the U.S. and EU previously had to use a bank transfer to add funds to their Abra wallets.
“The addition of these new liquidity enhancements in our app gives users more ways to move between crypto and fiat,” said Abra CEO Bill Barhydt.
“Consumers need to be able to invest their money wherever they choose, regardless of where they bank,” said Plaid’s head of sales, Paul Williamson. He added further that the new integration will provide Abra users, especially those who bank with smaller institutions, with more investment options.
Expanded withdrawal support
Abra also mentioned in the same announcement that it has expanded native withdrawal support to include all 30 of its supported cryptocurrencies. Users were previously able to withdraw only four cryptocurrencies: bitcoin (BTC), bitcoin cash (BCH), litecoin (LTC), and ether (ETH).
The company’s vice president of product, Willie Wang, also revealed that they plan to expand crypto deposit support “in the near future.” Abra will also reportedly allow global users to buy fractions of traditional investment instruments soon.