Abra wallet opens cryptocurrency outlets in all Philippine 7-Elevens

Abra wallet opens cryptocurrency outlets in all Philippine 7-Elevens

Abra is a cryptocurrency and investment app in one. Now they go one step further, selling cryptocurrency for cash at no less than 6,000 branches of 7-Elevens in the Philippines.

Collaboration entered into

This development is possible because Abra has partnered with a local payment company called ECPAY. This company in turn manages the payment network of all 7-Eleven stores in the Southeast Asian country.

Abra adds 6,000 new retail cash-in locations in Philippines //https: //t.co/10mgKVEcpa

– Abra (@AbraGlobal) September 19, 2019

Conditions are easy to do

With the service, every user of an Abra wallet can purchase crypto via the CLIQQ app or kiosks from 7-Eleven. There are some (minimum) restrictions: you have to buy a minimum of 500 Philippine pesos (around 9 euros) and you can buy a maximum of 100,000 pesos a day, which is about slightly more than 1700 euros.

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Users pay the cash at the cash register and within two working days this amount will be in your wallet. About two percent of transaction costs still have to be paid on this. Users can then purchase cryptocurrency via the wallet.

Abra’s CEO is Bill Barhydt and he says:

Now Abra users in the Philippines can quickly and easily add pesos to Abra. This allows them to invest in cryptocurrencies or popular stocks such as Google, Amazon, Facebook, etc. This opens up a world of new opportunities to build wealth

Shares, cryptos and fiat

The wallet provider also said in February that it launched a new service that allows customers to invest in fractions of shares of companies listed on NASDAQ. Abra also supports thirty cryptocurrencies and more than fifty fiat currencies.

Abra’s goal is to make this type of financial product available to everyone. Abra himself calls this the “democratization” of access to financial services.

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Trisha D. Pascual from ECPay:

The new partnership broadens ECPay’s product and service offering to its Collection Partners such as 7-Eleven, NCCC department stores and supermarkets, LCC shopping centers, remittance and pawnshop partners

From last July the wallet can be used in the Netherlands, just like in 150 other countries.


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