In the wake of advanced technology options, the name of Blockchain is a leading one. Though this technology is yet in the primary phase, it has got acceptance in various fields gradually. There are also many more companies working on various solutions offered with the help of this technology. Abra is all set to work on providing banking solutions to consumers based on Stellar Blockchain. It is expected to improve the features by partnering with Stellar Blockchain. The company has already received investments close to $5 million from SDF in this regard. The CEO of Abra Bill Barhydt said that they are building banking type features and consumers will have the option to earn interest through their investments under this scheme. This can be a huge thing for the Blockchain industry as it will bring in more investors into the game and build more trust among the investor community.
Upcoming banking features from Abra
The new features will give an organized outlook to the cryptocurrency investments as they will appear like traditional banking investments. The new feature will provide an option for users to store dollars, and they can earn interest amount on that money. In the same manner, the users can get interest even for their cryptocurrency holdings. This is a good feature as this will encourage new participants to store their money in the crypto format as this can get them secured interest and also earn good money through a rise in prices. Abra has an arrangement with various banks and exchanges to implement these features, and they will take care of liquidity issues in the long run.
Collaboration with Stellar Blockchain
The SDF deal with Abra provided the company with $5 million funding that has boosted the prospects of the company. The new features will help them to facilitate the movement of funds across the globe in real-time. This will also open up a new format of global lending, and the decentralized finance institutions will be very happy with this move.
The blockchain industry is equally excited as they can take the concept to new levels and enable traditional banking types of features in this industry. This will also give a lot of credibility to the entire crypto industry. With this, international trade finance, and peer to peer loans will become easy, and they can open up several new opportunities for various companies. This trend is likely to influence several other innovations in the financial markets.