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Abra CEO announces Plaid partnership in a move to ease fiat-to-crypto conversion

Arijit Sarkar

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Abra CEO announces Plaid partnership in a move to ease fiat-to-crypto conversion
Credit: Pixabay

The cryptoverse experienced mixed emotions over the past few months, with advancements happening on both ends of the spectrum. Some of the recent highlights included the launch of cryptocurrencies by non-financial institutions and the recent Binance hack.

While most crypto-enthusiasts are focused on finding any new development that will enable finding the Binance hackers, Abra was in the headlines for enabling fiat-to-crypto transactions, in a move that will be a massive push for cryptocurrency investing.

The information came into light after a tweet by Abra CEO Bill Barhydt, which said,

“Want to move some money out of your bank and into crypto? Abra now supports thousands of US banks and credit unions.”

The main goal behind Abra’s latest Plaid integration is to provide a user-friendly platform for making fiat to crypto conversions. Currently, the platform supports conversion between 30 cryptocurrencies and 50 fiat currencies through various options, including bank transfers and credit/debit cards.



In a related media release, Barhydt also mentioned,

“The addition of these new liquidity enhancements in our app gives users more ways to move between crypto and fiat. We’re particularly excited about our partnership with Plaid, which brings thousands of additional financial institutions into the Abra ecosystem for U.S. customers.”

Soon after the news spread, numerous users on Twitter had questions about the platform’s availability outside the US. While the company has not made any official announcement related to further deployments, Abra could hit a rough patch in the near future if crypto adoption stalls.





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Binance Coin [BNB] registers ATH as it surges by over 16,000% since inception

Namrata Shukla

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Binance coin [BNB] registers ATH as it surges by over 16,000% since inception
Source: Pixabay

The cryptocurrency market continued to register massive growth, as the prices of most major cryptocurrencies soared. However, the late entrant to the list, Binance Coin [BNB] is posing to be tough competition for other coins in terms of performance. BNB which entered the crypto market in July 2017, breached its all-time high and was trading at $28.79, at press time.

Source: Trading view

Source: Trading view

Binance Coin started out in July 2017 with a value of $0.1927 and marked its all-time high on May 18 at $31.91, according to the Trading View chart of the coin on Binance. BNB noted the growth of a massive 16,458.31% since 2017. However, until the beginning of 2019, BNB was valued at $6.59, after which the coin noted a surge by 384.15% and peaked at $31.



Source: CoinMarketCap

Source: CoinMarketCap

In the month of May, BNB noted a 28.16% growth, and the coin was valued at $28.66, with a market cap of $4.04 billion. The 24-hour trade volume of the coin was reported to be $551 million as it spiked by over 10% in a day. In the past seven days, the coin grew by 35.97%, but slipped by a minimal 0.25% in an hour.

BNB was highly traded on its native exchange, Binance via the BNB/BTC and BNB/USDT pairs. The BNB/BTC trading volume noted on Binance was $140 million, while the volume reported on the BNB/USDT pair was $132 million. The third place was taken by BKEX via the BNB/USDT pair as it registered a trading volume of $72 million.





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