Digital Currency Wallet Abra Adds Direct Support for Ethereum

Digital currency wallet and exchange Abra has put in motion a native support for Ethereum (ETH).

According to a blog post published on March 12, Abra said users will now enjoy receiving, holding, selling and buying ethereum directly from its wallet, as well as using the altcoin as an access to invest in other Abra-listed services such as the recently-listed BIT10 Index token, which tracks the ten largest cryptocurrencies by market capitalization, and also as crypto and fiat currencies with over 30 crypto assets and 50 fiat currencies.

However, Abra had until recently only supported Ethereum as a so-called “synthetic asset” — an investment mechanism that creates crypto-collateralized contracts so that users could gain exposure to the altcoin’s price movements, but not hold the coin itself.

The Chief Executive Officer of Abra, Bill Barhydt while speaking on the project said, Ethereum support “sets the stage for Abra to launch native ERC-20 support, in particular a whole bunch of [ERC20-based] stablecoins, that we’re excited about.”

Recall that in February, Barhydt while comparing the private — or permissioned — blockchain networks said they will eventually “fail miserably, like the now-defunct concept of the private extranet from the 1990s, which similarly restricted access to an authorized set of users.

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