The Stellar Development Foundation (SDF) just invested $ 5 million in Abra, an American startup offering a portfolio and the possibility of trading cryptocurrencies.
According to a press release, Abra will use the funds to accelerate the integration of Stellar protocol. The startup plans to operate the network Stellar as " blockchain backend To improve and develop new financial services.
We can't think of a better partner than the Stellar Development Foundation […] By integrating with Stellar, we will be able to build the next generation of banking services, leveraging the network's ability to use traditional banking infrastructure combined with innovative blockchain opportunities, ”commented Bill Baryhdt, CEO of 'Abra.
Founded in 2014 in San Francisco, California and supported by American express ventures, the startup allows today to invest in a hundred digital assets, including Bitcoin, Ethereum and XRP.
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With Abra joining the Stellar ecosystem, we are adding a compelling tool to developers to create even more innovative business models that are readily available on the network, ”added SDF co-founder Jed McCaleb.
Last March, Abra also joined the Celo Alliance, an initiative that aims, like Facebook’s Libra project, to accelerate the adoption of cryptocurrency as a means of payment and improve financial inclusion.
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