Former Netscape Director Launches Abra

Former Netscape director Bill Barhydt has announced the launch of a new bitcoin remittance app called Abra. He said that Abra's goal is to cap the $550bn global remittance market by lowering its associated fees.

"Our mission with Abra is to turn every smartphone into a teller that processes withdrawals. This is not just another bitcoin app. The wallet is a full-fledged digital asset management system, and you don't have to understand it. It's very sophisticated what's going on behind the scenes", he said.

To register, users are required to provide their name, email address, phone number, city and country of residence. Customers will be able to deposit cash into the app through debit card or a teller and then transfer funds anywhere.