The Stellar Development Foundation invested $5 million in Abra, a crypto wallet service, to integrate Stellar's blockchain into Abra's payment and investment products. The partnership aims to expand financial services on Stellar and improve access to on and off ramps for traditional finance.
The Stellar Development Foundation announced a $5 million investment in Abra, a Silicon Valley-based crypto wallet service. As part of the deal, Abra will deepen its integration of Stellar's blockchain technology into its payment and investment platforms. XLM is already natively hosted on Abra and is popular among users. The partnership is expected to bring new products to the Stellar network and provide users with additional on and off ramps to traditional financial systems. Both organizations aim to leverage the partnership for international remittances, building on Stellar's existing expansion into Southeast Asia and partnership with MoneyGram.