Abra Cryptocurrency Wallet Opens European Bank Account Deposits for Euros to Bitcoin
Cryptocurrency Wallet Abra Opens Door To More European Clients
Abra, a crypto wallet and exchange startup company, is now opening a new channel that can be used by Europeans who have bank accounts. The residents of the Single Euro Payments Area (SEPA) and of other nations of the European Union will now be able to transfer EUR and other national fiat currency using Abra, which will deposit Bitcoin on the wallet of the user.
The customers of the company will also be able to convert their BTC into one of the available cryptos of the site using the app. At the moment, the list includes tokens like ADA, BAT, TRX and other 25 tokens.
SEPA can be used for residents of any country that is part of the European Union and also Monaco, San Marino, Iceland, Norway, Switzerland and Liechtenstein to make cross-border payments to other countries that also use SEPA.
Company Talks More About the Features
The company is working together with Coinify, a well-known payment processor, to support European banks. The CEO of the company, Bill Barhydt, explained that Abra works with regulated partners to be able to deliver its services in many different territories with efficiency. These third parties take the personal information of customers and process deposits and withdrawals.
Coinify is one of the major partners of the company in Europe and will enable the SEPA integration, according to the CEO, which they can use to send Bitcoin to other Abra wallets.
Before the company decided to do this, the customers had to fund their wallets by using means like wire transfers or to purchase the cryptos with American Express, MasterCard or Visa (both credit and debit cards were accepted). The company is now also allowing the holders of SEPA accounts to use Bitcoin Cash (BCH) deposits.