Innovations in the blockchain space continue with full force. Blockchain technology has disrupted the level-playing field for almost all industries: from pharmaceuticals to real estate to telecommunications. Yet, blockchain can also help the stock market, it turns out.
The latest development in the blockchain space comes from the blockchain app Abra. The company is a wallet service provider and a crypto exchange. This past Wednesday the company announced that their users will now be able to get their hands on their new feature: enabling investors to buy portions of the stocks they want to invest in and offering zero trading fees for the remainder of 2019 on all ETF and stock tradings.
Investors around the world (or from more than 150 countries) will now be able to invest in fractions of stocks and ETFs through the blockchain technology and smart contracts.
The idea is similar to the one that an investor can own a fraction of Bitcoin. Now, investors can own a fraction of Google, Facebook and other high-profile companies.
The minimum investment amount is $5. Abra is currently offering more than 45 fiat currencies and over 30 types of digital coins. For the new feature and roll-out, the company will be offering 50 new investment assets, including ETFs such as S&P 500, stocks such as Facebook and Google and commodities.
Abra is a growing company, founded in 2014. Its investors include Arbor Ventures, American Express Ventures and other prominent supporters.