American Express connects to Abra’s bitcoin wallet
American Express is giving its card customers an easy way to transact in cryptocurrency.
Amex has established as a funding option for Abra, a global money-transfer app based on bitcoin and blockchain technology. Amex users may purchase bitcoin with a credit or prepaid card and send funds immediately to any other Abra user worldwide, Abra announced Tuesday.
Amex will be the fourth funding option on Abra’s menu, alongside cash, bitcoin or a linked bank account, Abra said. Amex customers may purchase bitcoin in increments of up to $200 a day and $1,000 a month for a fee of 4% of the transaction, according to Mountain View, Calif.-based Abra, which launched in 2014.
Funds sent via Abra through American Express are accessible within minutes, Abra said in a blog post. Recipients may opt to receive the funds in a bank account in the U.S. or the Philippines; they may also receive the funds as cash through an Abra teller in hundreds of cities worldwide.
Abra made Amex funding available on Tuesday to a small group of users and plans to roll it out widely soon.