Cryptocurrency pioneer Abra introduces a crypto credit card and NFT service in partnership with American Express.
Abra Introduces the Abra Crypto Card and Expands Services
Digital asset financial services company Abra has made several exciting announcements, including the launch of the Abra Crypto Card and the expansion of its Prime offering.
The Abra Crypto Card, which functions on the American Express network, aims to simplify crypto trading and earnings. Users will be able to buy and sell NFTs within the app using their existing funds, and the card does not charge any annual or foreign transaction fees. Transactions can be made in U.S. dollars, and crypto rewards earned from the card are tradable across over 100 different cryptocurrencies supported by Abra.
Card owners will also benefit from American Express network benefits, such as Amex Offers, presale ticket access, global dining benefits, and purchase protections. The Abra Crypto Card is expected to launch in late 2022.
In addition to the new card, Abra is expanding its Prime offering to include more trading capabilities, increased lending functions, and additional fund options for institutional and accredited investors. This move is aimed at catering to the needs of a growing number of high-net-worth individuals and institutions seeking exposure to digital assets.
Abra has also announced a new integrated NFT wallet feature and a new DeFi service. The NFT feature will enable easy access to various NFT marketplaces, while the DeFi service will add DeFi liquidity pools and other investing opportunities to Abra Earn.
Mohammed Badi, president of Global Network Services at American Express, commented that the company has a long-standing relationship with Abra and is pleased to extend the American Express brand and benefits to Abra's customers as the payments network for their first card. Bill Barhydt, founder and CEO of Abra, stated that the card makes it easy to trade crypto, earn interest, and borrow against crypto holdings.
Interestingly, a related article suggests that Payment Giant American Express may have filed trademarks for the metaverse, hinting at potential future collaborations between the two companies.
Abra is also launching Abra web, allowing users to access the platform from their desktop or laptop. This move is expected to make the platform more accessible and user-friendly for a wider audience.
The new developments at Abra highlight the company's commitment to making digital asset management more accessible and user-friendly for a broader audience. With the launch of the Abra Crypto Card, the expansion of its Prime offering, and the introduction of new NFT and DeFi features, Abra is positioning itself as a leader in the digital asset space.
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