Andreas Townsend

1 year ago

Monero enthusiasts receive great news. The global currency wallet and exchange Abra added the privacy-oriented coin to its platform in an effort aimed straight at helping emerging economies drive a revolution in global financial inclusion.

Abra founder and CEO Bill Barhydt says that the combination of Abra’s straightforward interface and the privacy-conscious Monero offers a “compelling pathway” for consumers in Africa and other emerging economies to get equal access to all classes of investing, credit services and payments.

Privacy is more than just a useful feature

“Like Monero, we see privacy as far more than just a useful feature: it's critical to enabling the creation of a new order of decentralized financial systems,” said Barhydt.

He continued and explained that “adding Monero to our list of supported cryptocurrencies directly supports our goal of offering exposure to assets and financial services that have traditionally been difficult to access in a simple and secure way.”

Riccardo Spagni aka fluffypony who is the South African-based Lead Maintainer of the Monero Project stated that Monero’s inclusion on the Abra platform would only boost further the ability of investors in emerging markets across Africa and the whole world to unlock new opportunities and markets.

Monero and Abra have a common goal

Spagni said that together with Abra they have a common goal to create a system of global financial services that lack centralized authorities that are involved in their creation, distribution, enforcement, or usage.

He also said that beyond all this, the enhanced liquidity and awareness for Monero that Abra will be able to generate is a massive and exciting development for the entire Monero community.

Using Abra, consumers in all countries in the world will be able to invest in other asset classes, no matter the origin of these assets.

Users have the ability to add money to their wallets via a bank account, American Express card in the US or using bitcoin purchased outside Abra from all over the globe.

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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

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