Investment services provider, Abra, has announced a new partnership with payment company ECPay and 7-Eleven convenience store chain, to bring cryptocurrency closer to residents of the Philippines. According to the announcement, all Abra wallet users can now exchange their cryptocurrency and get cash at any one of about 6,000 different 7-Eleven stores in the Philippines.
Users can locate a CLIQQ kiosk in any of the stores all over the country, find the Bills Payment option and then look for Abra from the subsequent options. From there, after filling all the requirements, users may now deposit a minimum of 500 Philippines Pesos (about $10) and a maximum of 100,000 Philippines Pesos (about $1,900) into their Abra wallet. Users will be charged a 2% transaction fee. A receipt will then be printed and the cashier in the store will complete the process. After this, money will be added to the user’s Abra wallet within 2 business days and users may then begin investing in any of the digital currencies supported by the service.
According to Bill Barhydt, Abra founder and CEO:
“Now Abra users in the Philippines can quickly and easily add pesos into Abra and use that to invest in cryptocurrencies of popular stocks like Google, Amazon, Facebook, etc., which opens up a world of new possibilities to build wealth.”
With this move, Abra and 7-Eleven contribute to adoption of global adoption of cryptocurrency.
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