Abra announced the next phase of its global expansion at the North American Bitcoin Conference today. The plans are to enable Abra worldwide next month, activating global network of Tellers who can transact in over 50 currencies, including directly in Bitcoin.
This means that anyone with a smartphone in any country can send or receive funds in most major currencies and can cash in or out of their Abra wallet, even without a bank account.
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Bitcoin has been a large part of and the key to Abra’s efforts, albeit not always conspicuous. Although, now Abra is confident about the fact that they can release a digital currency product using Bitcoin without confusing the average consumer, after their last year’s Philippines and the US launch.
Now they’re adding direct Bitcoin support (for depositing and withdrawing) in the Abra App while maintaining the super-user-friendly experience from stage one.
As a result of this launch, any Abra user can use Bitcoin via any third party Bitcoin Wallet to add and remove funds from their Abra App regardless of which currency they’re holding in their Abra Wallet.
There is also the plan to launch a network of Abra Tellers or their Human ATMs with the intention to enable people around the world to use Abra.
So their global launch will focus on the following aspects:
- Bitcoin wallet: Buy, hold, and sell Bitcoin with Abra in addition to any of 50 fiat currencies
- Bitcoin to fiat: Send Bitcoin to anyone worldwide and the recipient can receive in any of their supported currencies, which they can then cash out via a Teller. Currency conversion will be taken care of by the company.
- Fiat to Bitcoin: Cash in via a Teller in any of their supported currencies, send to anyone worldwide, and the recipient can receive and/or cash out in Bitcoin
- Fiat to fiat: any user can send money in any of Abra’s 50+ supported currencies to any other user, and both parties can cash in and out via their local Teller.
- Become a Teller using Bitcoin: Any existing Bitcoin trader you can now use that Bitcoin to become an Abra Teller and process deposits/withdrawals for people who don’t know what Bitcoin is.
This would also support the global Bitcoin trading community as with the Abra App, Bitcoin traders would be able to hold bitcoin but process deposits and withdrawals in any world currency that the Abra App supports.
Abra is planning to roll out the Teller program out globally, starting next month. Tellers can make money while helping their community send and receive money.
Abra’s next stage of development is a huge step forward in realizing their vision of anyone being able to send money easily to anyone else in the world, instantly, privately, and securely.