Stellar (XLM)
$0.084834 (-0.71 %) View coin
06 May 2020

Stellar Development Foundation invests $5 million in Abra

The Stellar Development Foundation, a non-profit organization supporting the Stellar ecosystem, invested $5 million in Abra to help integrate Stellar into its back-end while also helping to build out additional financial services. Abra is available in hundreds of countries enabling access to numerous crypto assets and for a short time equities before pulling back on that offering due to regulatory concerns.

Why it matters - Abra has already raised almost $50 million through traditional venture capital so this raise isn't to support operations as much as explicitly building out a partnership with Stellar. - This is the second investment from the SDF, the first being DSTOQ Group Ag, a platform to invest in global stock markets.

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