Stellar Development Foundation has announced that they will be making whopping investment of 5 million dollars in Abra. This will facilitate Abra’s integration to Stellar and bring their expanding financial services and products to the network.
Right now, Abra is market leader of financial services for cryptocurrency and they are equipped with knowledge and expertise necessary to harness the opportunities and navigate the challenges of the rapidly evolving blockchain industry.
Denelle Dixon, CEO of Stellar Development Foundation said,
“Abra is building a product portfolio of financial services that aligns directly with our mission to create equitable access to the global financial system. They’re committed to providing innovative investment opportunities in underserved, capital-scarce markets. This investment marks the beginning of our partnership to work together towards creating equitable access to financial services that also create new, innovative business opportunities for the Stellar network.”
Stellar and Abra will now be working together to create innovative compelling tools for developers. SDF co-Founder and Chief Architect, Jed McCaleb said,
“We’ve seen the growth these types of products have enabled in other ecosystems and we’re excited to bring that to Stellar. Because we believe that our anchor network, with on- and off-ramps into the real world, will make this uniquely valuable to our developers. These are the ways we’ll accelerate growth and build long term success on the network.”
Read full press release here.