Crypto Wallet Abra Raises Five Million USD from Stellar Development Foundation

The Stellar Development Foundation has invested five million USD in Abra, a digital asset investment app. Now, the startup is looking to integrate the Stellar blockchain into its platform.

Bill Barhydt, the CEO and founder of Abra told a crypto media outlet,

“We believe Stellar’s platform is one of the most scalable and versatile cryptocurrency platforms available today. That combined with a similar shared mission of democratizing access to financial services means that our companies are strongly aligned in our services roadmap going forward.”

In a statement, Denelle Dixon, the CEO of Stellar Development Foundation mentioned,

“This investment marks the beginning of our partnership to work together towards creating equitable access to financial services that also create new, innovative business opportunities for the Stellar network.”

Further elucidating the development, Barhydt said,

“We’re not making specific product announcements today except to say that Abra will definitely be making a commitment to the Stellar platform going forward.”

He further added,

“Abra will continue to offer Bitcoin as a core asset in our system as Bitcoin remains, by far, the most popular crypto asset in the Abra App for both iPhone and Android users.”