Abra also announced the expansion of its Prime services and the launch of Abra web.
A digital asset financial services company, Abra has announced the launch of Abra Crypto Card and a new NFT service. Abra crypto card is a crypto rewards credit card that will function on the American Express network.
The card will allow transactions in U.S. dollars and offer crypto rewards on purchases of any amount and category.
The crypto rewards will be tradable across over a 100 different cryptocurrencies which are supported by Abra, without any annual or foreign transaction fees.
“We’ve made it super easy for anyone to trade crypto, earn interest, and borrow against crypto holdings in one, integrated app,” said Bill Barhydt, founder and CEO of Abra. “Our partnership with American Express will now make it even easier to access and earn crypto.”
Card owners will also be eligible for American Express network benefits, such as Amex Offers, presale ticket access, global dining benefits, and purchase protections.
Mohammed Badi, president of Global Network Services at American Express said, “We have a long-standing relationship with Abra through our Amex Ventures investment portfolio, as they have deep expertise in both crypto and traditional financial services, and we are now pleased to extend the American Express brand and benefits to their customers as the payments network for their first card.”
The company has released an early access waitlist for now. The card is expected to be launched in late 2022.
Abra also announced a new, integrated NFT wallet feature to enable easy access to a variety of NFT marketplaces, while minimizing gas fees.
Abra users will be able to use their existing funds in Abra to buy and sell NFTs without leaving the app.
“You shouldn’t have to be a Ph.D. in MetaMask to buy or sell NFTs. Our new NFT feature will make it simple to buy and sell NFTs from a variety of marketplaces,” continued Barhydt.
The new NFT feature will also be available from late 2022.
Abra is also working on expanding its existing Prime offering into more trading capabilities, increased lending functions, and additional fund options for institutional and accredited investors. The new DeFi service will add a bunch of DeFi liquidity pools and other investing opportunities directly into Abra Earn.
The company is also going to launch Abra web, allowing users to access the platform from their desktop or laptop.