Abra’s Bitcoin Remittance App Attracts Thousands of Users

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Bitcoin remittance focus Abra, that secured a US$12 million Series A appropriation round from distinguished try collateral firms including Arbor Ventures, RRE Ventures and First Round Capital in Sep 2015, launched a rarely expected iOS and Android applications on Feb 5, 2016.

Since then, over 5,000 users and Abra tellers have purebred and downloaded a focus on Google Play, with users opposite regions including a U.S., South Korea, Southeast Asia and Africa already sealed adult to work as tellers.

In a Abra omni-bank peer-to-peer remuneration network, ABRA tellers are remuneration outlets that are in assign of delivering and settling exchange between dual parties. Thus, users who have sealed adult to work as ABRA tellers in South Korea and a U.S. for example, will accept bitcoins from a sender, modify to fiat, and assign a certain commission as transaction price as they broach a remuneration to a receiver.

Essentially, a core judgment of ABRA is identical to that of normal remittance networks such as Western Union and MoneyGram. The usually disproportion is, instead of transacting with fiat money, senders use bitcoin to settle a payment. Because of a mobility, high general acclimatisation rate and liquidity of bitcoin, ABRA tellers and the


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