Industry experts

Crypto traders in Europe to use their bank accounts to directly purchase cryptos

Cryptocurrency traders within the European Union are now the beneficiary of a partnership between cryptocurrency firms which has made it possible for them to use their bank accounts to directly purchase crypto.

According to a press release seen by cryptolinenews, Abra, a global cryptocurrency wallet and Coinify, a top virtual currency technology gateway with a global presence, have today announced their coming together.

Their partnership will now allow Abra wallets to extend services to the European Union. Before the partnership, Abra only allowed direct bank transfers in the U.S

To the European cryptocurrency traders using the Abra wallet, the partnership will offer them “the option of Single Euro Payment Area (SEPA) bank transfers within the Abra app which will allow them to directly transfer money from their local banks. Users will then be able to proceed as usual with the app in using their funds to purchase bitcoin and exchanging the bitcoin for Abra’s offering of 28 different cryptocurrencies.”

Bill Barhydt, CEO, Abra, said:

“We are pleased to announce this new method of funding an Abra wallet by working alongside Coinify, a strategic European cryptocurrency player. With users from over 70 countries around the world and a greater demand for the ability and access to invest in cryptocurrencies from any bank account, we are committed to creating a seamless experience, which is why we integrated with the most-established industry player in the region”

For Coinify, Abra’s partnership, allows it to further extend its strategy of “bridging the virtual and traditional payments arena,” noted Mark Højgaard, co-founder and CEO of Coinify.

The Abra wallet is home to Monero, Litecoin, NEM, Bitcoin, Verge, Ethereum, Ethereum Classic, OmiseGo, Qtum, among others.

Will Abra’s partnership with Coinify which allows cryptocurrency traders in the EU to use their bank accounts to directly purchase crypto bring more people to invest and trade cryptos?

Let us know your thoughts in the comments section below.

coinmag

Philip is an experienced blogger keen on staying updated with trends and news surrounding the blockchain and Bitcoin space. With several years of freelance experience in various industries, Philip brings his knowledge and experience into the crypto space.

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