Abra, the crypto wallet and investment app provider, is expanding its US offerings by adding support for 60 new cryptocurrencies and doubling users’ bank deposit limits.

The app provider announced on November 12 (Tuesday) that US customers are now able to deposit, withdraw or trade Bitcoin SV, DAI and cosmos, among many other crypto assets.

Additionally, customer withdrawal and deposit amounts will rise to $4,000 per day, $8,000 per week and $16,000 per month.

According to the firm, the service expansion also adds deposit and withdrawal capabilities for at least four stablecoins, including Tether, TrueUSD, Paxos, and DAI.

However, in the coming weeks, Abra is going to open up access to the new assets for users outside the US as well. The additions bring the total number of cryptocurrencies on offer to over 200. Unlike most exchange services, Abra allows users to freely exchange all in-app assets without trading pair limitations.

ALSO READ :  Food Industry Saves Up To $31 Billion For Tracking Food Through Blockchain

A spokesperson told that the new options will not include Qtum (QTUM), Bitcoin Gold (BTG), EOS or OmiseGo (OMG).

Earlier this year, Abra announced that its US customers would not be able to hold those particular cryptocurrencies from August 29, due to “regulatory uncertainty and restrictions” in the country.

At the time, the firm also said that residents of New York State could no longer use bank ACH or wire transfers, or American Express cards for deposits and withdrawals after the same date. Other US users can currently fund accounts with AmEx, Visa and Mastercard, as well as bank and wire transfers, and crypto.

As Abra was founded in 2014, the firm has received investments from American Express Ventures, Foxconn Technology Group, and First Round Capital.

Source: coindesk.com


Share This

Share This

Share this post with your friends!