Abra confirmed that it would soon support XRP on their platform.  This has improved the legitimacy and approval of XRP worldwide.  This is considered to be a step forward for XRP.

Abra is a dedicated investing app that provides an unsupervised crypto wallet.  Abra provides for 30 different crypto-asset investment options.

This news about Abra accepting XRP came after Abra announced that their cryptocurrency platform would provide their users with the option to buy the stocks of blue-chip companies like Amazon, Facebook, and Netflix by making use of Bitcoin.  This is a big win for the Bitcoin investor community.  The announcement significantly pushed the status of Bitcoin forward into the world of the cryptocurrency. 

While they are placing the orders for stocks, users will be able to place their orders for Exchange Traded Funds (ETFs) through the Bitcoin.  The company will also be adding more of global assets in the new future.

Bill Barhydt, the CEO of Abra, expressed their vision thus:  “Our vision for Abra is to come up with a single app which will serve as the go-to investing app for the globe. This is our first announcement, overtime; you will see several other services in the banking arena to democratize access to financial services.”

The crypto-collateralized contract is made available for everyone who is making use of Zcash, Monero, or euros.  This contract takes Bitcoin and pegs it to the value of any investment that the investor might want exposure to. This can be zcash, Monero, or euros.  It makes no difference with this new announcement of Apple shares. This just means that when you are buying $1,000 worth in Apple, you are making use of Bitcoin actually to create the contract.  In cases where the price of Apple is going up, then you will be getting more of Bitcoin.  If the price of Apple is going to go down, then you will end up with less of Bitcoin.

There is no tokenization in this system. And, therefore the crypto-collateralized contracts are not tokenized stocks.  Customers will be getting investment exposure to almost any kind of asset type.  The Abra’s App builds a lot of “Synthetic Financial Instruments” by making use of the crypto-collateralized contract. The investors will be experiencing the actual losses and profits of the actual asset type.

Consumers do not know the concept of the creation of synthetic assets.  They just know that they are investing in Apple shares or as investing in Ripple or |Monero.  Behind the scenes, it is about the creation of synthetic assets.