Transfer money worldwide instantly and securely.Get the App Abra is a digital wallet app that lives on your smartphone.Deposit Fund your wallet with bitcoin, your bank account, or use cash by visiting an Abra Teller in your area.Send Use the Abra app to send or receive money worldwide with no sending fees.Buy things online wherever Abra or bitcoin is accepted.Withdraw Use the app to transfer funds to your bank account, your bitcoin wallet, or find a nearby Teller to get cash.Not all services are available in all countries.Please see Where is Abra available?to find out which services are available in each country.More money stays in your hands.Convenient You choose how you deposit and your recipient chooses how to withdraw, send, or spend.With our growing network of Tellers, there’s no need to travel long distances to withdraw funds.Instant, Private, and Secure Abra uses peer to peer technology, so your money goes directly from you to your recipient, with no middleman.No Transfer Fees Sending and receiving is free.

It’s also free to add and withdraw funds using your bank account.See our Fees page for more details on other fees that may apply in some cases.The easiest way to send and receive money, with or without a bank account.In the News This mobile payment company is transforming P2P payments by using blockchain technologyAbra Raises $12M In Series A Funding For Its Bitcoin-Based Remittance ServiceYour bank account: The next thing to go obsoleteFastCompany’s report revealed that overseas remittance totaled $429 billion in 2016.Some of the largest Remittance markets include China and the Philippines.Already, bitcoin startups have begun to dominate the remittance markets in the two countries, with the Philippines leading bitcoin remittance innovation.Both domestic and international remittance is a massive market within the Philippines.Companies such as Lhuillier and Palawan operate thousands of branches throughout the country, with deeper market penetration in comparison to international remittance companies such as Western Union.

Since early 2016, bitcoin startups led by Coins.ph, a remittance and bitcoin payment service provider founded by CEO Ron Hose, began to threaten local remittance companies such as Lhuiller that have been dominant for decades.grafico bitcoin dollarAn appealing business model of Coins.ph was to enable a wide range of deposit and withdrawal methods suited for the needs of local recipients.bitcoin how to become a minerFor instance, like Western Union, Lhuillier users must visit local Lhuillier branches in order to receive payments.bitcoin summit 2014 san franciscoCoins.ph however have partnered with banks, local remittance companies, convenience stores and other companies to provide as many options as possible for local users.zelf een bitcoin maken

Currently, Coins.ph users can receive payments via nationwide bank ATMs, Gcash–local digital currency developed by telecommunications company Globe Telecom that can be used to send and withdraw payments using Bank ATMs, more than 20 partnered banks, remittance outlets such as Lhuillier and LBC, and even door-to-door delivery.bitcoin and aml riskEmployees working in cities such as Manila can utilize door-to-door deliveries to send money to their families in the provinces and countryside to prevent additional expenses and time occurred by visiting local remittance outlets and receiving payments.bitcoin fork ethereumThe popularity and penetration rate of Philippine bitcoin startups exponentially increased when the Philippine government officially legalized bitcoin as legal tender and as a remittance method.bitcoin nba betting

The official circular released by the central bank of the Philippines “The Bangko Sentral does not intend to endorse any VC, such as Bitcoin, as a currency since it is neither issued or guaranteed by a central bank nor backed by any commodity.ethereum forecast 2017Rather, the BSP aims to regulate VCs when used for delivery of financial services, particularly, for payments and remittances, which have a material impact on anti-money laundering (AML) and combating the financing of terrorism (CFT), consumer protection and financial stability.” In an interview with FastCompany, World Bank’s Marco Nicolo further emphasized that the emergence of innovative players and service providers within the global remittance markets has led to increased digital transactions in different forms.bitcoin armory torNicolo “We have seen more innovation in the delivery channel stage of the transaction where players allow transactions to be initiated over the internet in different forms.

Ultimately, however, most of these models have to rely on the corresponding banking network.This is where where the potential of [distributed ledger technology] and blockchain innovation is.” However, executives of existing dominant remittance companies including Western Union reaffirmed that tight regulations and policies on remittance payments and service providers have made it more expensive to initiate payments internationally.Bitcoin can significantly reduce operating and regulatory costs in the sense that by using KYC and AML policies, each account or bitcoin wallet addressed are readily available for verification.Expressing his skepticism over bitcoin and blockchain technology’s potential impact on the global remittance industry, Western Union’s chief information officer David Thompson stated: “Technology doesn’t solve all those business and regulatory issues.Some pure technology plays forget that.We live in a world with criminal networks and entities that you have to keep out of your infrastructure.