Abra operates in the P2P money transfer market using bitcoin technology as the underlying infrastructure. It serves both banked and unbanked users and facilitates remittances and merchant transactions. Its innovative model of value transfer is customer engaging; anybody can transfer money and can become a teller (human ATM) which has created a brand new market of its own.
Through specific financial transactions (hashing) Abra on the one hand avoids any crypto currency typical volatility – the user “owns” and “transfers” fiat money like USD. In the other hand Abra at no timepoint has ownership on the money – Abra says that through this they do not function as a bank and therefore do not need a bank license.