The past few weeks have been quite exciting for the Abra team. The bitcoin-based money transfer service continues to add a lot of support for US bank accounts and credit unions. Not too long ago, the list had grown to over 50 US banks, which is quite impressive. As of yesterday, the company added another dozen institutions to this quickly expanding list. Abra seems to be firing on all cylinders as we speak.
Abra Continues To Grow Exponentially
it is positive to see Abra make such progress in a short amount of time. The company unveiled they further improved support to fund Abra accounts from US bank accounts and credit unions. To be more specific, a total of 63 institutions are now supported. That is quite a substantial amount, to say the least. The bitcoin-based money transfer service continues to grow and expand at an accelerated pace as of right now.
Among the newly supported US banks are quite a few big names. Bank of America, Capital One, Chase, Citibank, Wells Fargo, PNC, and US Bank are just a few of these names. It is also positive to see so many credit unions on the list right now. Bitcoin-oriented companies should never overlook the potential of credit unions these days, that much is certain.
The main benefit of expanding bank support is so users can enjoy improved deposit speed. Putting funds into an Abra wallet needs to happen quickly. Right now, the process still takes 2-3 business days. However, the team is working on a solution to cut that time in half over the coming weeks. Some banks and credit unions even support same-day deposits, although those are still pretty rare occurrences. Improved bank deposit speed is never a bad thing when sending money around the world, though.
Additionally, the Abra wallet has seen some minor interface upgrades. Users can now track their bank transfers along every step of the process. That is quite a nice addition, as it provides some more insight as to why these transfers take so long. Moreover, it also shows if deposits are canceled or on hold for whatever reason. Furthermore, the wallet now uses the bitcoin price from the XBX Index, rather than Coinbase. In doing so, the team wants to provide a more accurate global average bitcoin price conversion rate.
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