Abra has announced that it would be completely supporting the Ethereum network’s ETH token on its platform. ETH joins the list of over 30 cryptocurrencies and 50 fiats, which are available on the network for storage, transfer, and trade. The latest addition of ETH on the Abra was announced during a blockchain event in Hong Kong.
Before announcing its complete support for the Ether, the token was only available as a synthetic asset, which means the users could only invest in it but cannot transact or withdraw it. With its addition on the Aber network, users can trade and look around from the plethora of options available on the platform.
The integration of ETH on Abra would not just be beneficial to the users looking for broader trading options, but the latest initiative would also bring in more asset liquidity to the 3 million user base of Ethereum network.
Joseph Lubin, the co-founder of the Ethereum project and founder of ConsenSys, said,
“While ether was intended to be the fuel that powers applications on the Ethereum platform, we are moving into a world where an enormous variety of tokens can start to be used on the payment side of a transaction. We’re thrilled to see the elegant Abra non-custodial wallet natively support ether and Ethereum”
Abra has announced that the update would be added on the network soon, where it is also going to offer $25 worth of ETH to the new customers on a purchase of $5. However, the offer might be limited to a small time frame.
The latest addition of Ethereum on the Abra network is set to help the Etheruem network users get access to a wider domain of trading and transaction options. This would help the network user base to gain asset liquidity and help the network to gain a few extra user bases.
Whether the integration of ETH on Abra would turn out to be a successful addition, only time would tell, however, there is no denying the fact that Abra has quite a portfolio of a range of cryptocurrencies and fiats which make the platform quite versatile and diverse in terms of trading and hedging options.