Abra Global has been a strong supporter of the Litecoin (LTC) project since the CEO stated that the company will use Litecoin (LTC) as their key asset moving forward, for their smart contract investment solution. Bill Barhydt, CEO of Abra, said this in Reddit’s announcement in April:
“We use Litecoin as the second asset class, after bitcoin, for our smart contract investment solution for 3 main reasons: 1. commitment to bitcoin compatibility: core road map, p2sh support, lightning support, etc 2. scalability slightly better than bitcoin in the short run (block size and block time); 3. mining costs are primarily function # 2 although this is more of a short-term gain because mining costs will skyrocket if we succeed! ‘
Bill also goes on to describe Abra’s desire to register more coins on his Mobile wallet application and further describes his vision for the company and the app.
“Abra is not meant to be a trading platform like binance or gdax. Abra intends to be a simple app for retail investors to gain exposure to hard-to-access assets. We activated this investment exposure using a synthetic cfd model based on a p2sh multi-s2 script on blockchain litecoin and bitcoin. Our goal is to open these to different asset classes over time, not just 20 crypto and fiat but even stock, commodities, etc. ”
It is against this background that Abra Global firm has announced that App now supports the deposit and direct withdrawal of Litecoin (LTC). Users can now fund their accounts with LTC from any external purse and invest in 25 currency cryptocurrency and 50+ fiat currencies on Abra applications. The team also urges users to upgrade their applications before starting deposit and LTC withdrawals.
The team at Abra also works to expand the registered cryptocurrency in the application. Noteworthy is the recent addition of 5 other cryptos by the company. They include Monero (XMR), NEO (NEO), NEM (XEM), Lisk (LSK), and Verge (XVG).
The addition of Litecoin (LTC) came on time and when the disappointment of the Litepay project has subsided in the crypto community. The LTC fans felt sad when Charlie Lee announced that the project had been canceled due to lack of ‘due diligence’ by the Litecoin team and foundation.
The current market analysis shows that Litecoin (LTC) holds strong in position number 6 and behind EOS. LTC is currently trading at $ 134 and down 3% in 24 hours and at time of this writing. Abra’s list should be a reason to smile for fans and the LTC Community.