Abra – dubbed the world’s first global investment app – has announced it will be offering customers outside of the United States the ability to make fractional investments in equities with zero trading fees.
The news was shared with Coin Rivet in a press release. Some of the equities included in Abra’s offer are popular stocks like Facebook, Apple, Amazon, Netflix, Google, Uber, and Tesla.
Further equities include commodities such as SPDR Gold Trust and oil, with indexes including Vanguard Growth, the S&P 500, and the Russell 200.
The service is set to be available for people across the globe and will include the Chinese market.
Abra aims to transform investing in stocks into an affordable activity for everyone with a fractionalised investment model and a $5 minimum per investment.
Similar to how investors can own a fraction of a cryptocurrency, they can now own fractions of high-priced stocks and ETFs as well. As a special launch promotion, Abra will be offering $0 trading fees for the remainder of 2019 on more than 50 stock and ETF investments.
The app is a non-custodial platform, which means all stored funds are kept on the Bitcoin blockchain and not by Abra. This in turn ensures the transactions are more secure and private than centralised databases used by most crypto exchanges and wallets.
Bill Barhydt, CEO and founder of Abra, stated: “Investing in financial markets is a basic tool to build personal wealth. Yet outside of the United States, most of the world’s population is not invested in financial assets or markets due to issues of access and affordability.
“Abra is addressing this global inequality by allowing more people to have a stake in financial markets. The focus of this launch is to make financial markets of the developed world more accessible and affordable to those in emerging economies.”
Interested in reading more Abra-related stories? Discover more about the Abra app, which enables users to trade with crypto, fiat, and ETFs.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.