The United States-based firm has announced early access registration to the platform, allowing investors in more than 155 countries to invest in 50 new traditional investment assets with zero trading fees through the rest of 2019 using the leading crypto.
Those assets reportedly include major stocks such as Facebook, Apple, Amazon, Google, Netflix, commodities such as SPDR Gold Trust, ETFs like Vanguard Growth and the S&P 500, and indexes like the Russell 2000 and others.
According to the press release, stocks and ETFs investment features in the Abra platform are based on a new investing model called Crypto Collateralized Contracts (C3s), which allows investors to make investments in any asset by using Bitcoin (BTC) and smart contracts.
Tech publication Hard Fork explains that Abra makes money through the addition of its new feature by charging a spread when the cryptocurrencies are exchanged, essentially a charge based on the difference between an asset’s lowest and highest prices at the time of the trade.
Hard Fork reports that since a user’s investment is immediately converted into Bitcoin — although displayed in dollars in the app — Abra will add BTC to maintain your balance if Bitcoin’s price changes. When a user makes an investment, the share price changes will dictate how much Bitcoin is added and subtracted from the user’s holdings.