Digital wallet and exchange startup company ‘Abra’ is setting up a brand new channel for deposits in collaboration with the European banks.
Residents within the Single Euro Payments Area ‘SEPA’, additionally including the European Union Nations, would be now able to transfer euros or different national currencies to Abra directly, that successively deposits bitcoin into users’ crypto wallets.
Customers would be then able to convert their BTC into one amongst the variety of different cryptocurrencies presently offered through the app, the list of that, as per now, currently includes BAT, TRX and ADA including addition other 25 altcoins.
SEPA standards give residents in any country within the European Union, including Iceland, Norway, Monaco, San Marino, Lichtenstein and Switzerland to form cross-border payments through direct debit transactions, among different available options.
The company is functioning with crypto payments processor ‘Coinify’ to feature support for European banks.
Mentioning further the chief operating officer ‘Bill Barhydt’ told that:
“Abra works with regulated exchange partners in several territories thus taking customer’s personal Identification information and process deposits, withdrawals and bitcoin purchases. Abra is functioning with Coinify as a part of our first partnership in Europe to enable European bank integration via SEPA … Users in Europe currently have the choice of doing a SEPA bank transfer from their European accounts to the Abra’s exchange partner directly which will cause the equivalent quantity of bitcoin to be added to the user’s Abra digital wallet directly.”
Prior to this move, customers may fund their wallets employing bank or wire transfers within the U.S., or purchase digital currencies with Credit Cards, Visa, Mastercard or Debit cards.
On prime of giving access to SEPA account-holders, Abra is adding support for BCH deposits.