Bitcoin Wallet App Abra, Now Available in the U.S. For Remittance

Abra, a non-custodial bitcoin wallet app that allows people to send money for free from their bank accounts, is now available in the U. S. and the Philippines, the Mountain View, Calif.-based company announced on its website. Abra is available on iPhone and Android in the U. S. The company’s goal is to be a global financial inclusion app for the expanding cross-border remittance market.
A U. S. user can add cash to their Abra wallet from any major bank account, then send it for free to any phone number in the U. S. or the Philippines via the bitcoin blockchain. Recipients can withdraw the digital cash to their bank account.
Philippines recipients can exchange digital cash for physical cash at ‘Abra Tellers,’ users who have been authorized to exchange digital for physical cash.
How It Works
When sending money from one currency to another, Abra sets the foreign exchange rate. The company claims it offers the best available rates, and the rates are visible to the sender prior to sending.
Abra does not have access to private keys that reference user funds.
Abra Tellers can be digital currency exchanges or retailers that facilitate exchanging funds as licensed money services or private agents of money services where such licensing is required.

This post was published at Crypto Coins News on 05/07/2016.

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