In a recent development that favors U.S cryptocurrency users, crypto wallet provider Abra announced Thursday their customers can now conveniently purchase and withdraw digital currencies through “thousands” of banks.
The move to include more banks means that Abra users now have a second option to funding their wallets in addition to direct bank transfers, which was reportedly the only channel existing before now.
As per the announcement, the addition of direct support for the banks was made possible through Abra’s partnership with a fintech service dubbed “Plaid.” With Plaid, applications can use APIs to connect with users bank accounts.
Speaking on the profound benefits that the latest development brings to the Abra platform, Bill Barhydt, CEO of Abra noted that “the addition of these new liquidity enhancements” in their “app gives users more way to move between crypto and fiat.”
Plaid’s Head of Sales, Paul Williamson also shared those thoughts, noting that consumers should “be able to invest their money wherever they choose, regardless of where they bank.”
The platform has also expanded its native withdrawals to 30 different cryptocurrencies including holdings in hardware wallets, thus, allowing users to swiftly switch position from crypto to fiat and vice versa, based on their preferences.
Some of the cryptos that have been added for native withdrawal at press time include DGB DOGE, DASH, BAT, NEO, ZEX, OMG, QTUM, VTC, ZEC, GNT, STRAT, REP, and SNT. Support for TRX, LSK, and ETC will be added in the coming days.
Abra’s latest feat add ups to its move to support payment for users in the Single Euro Payment Area (SEPA) last year.