The developer of the Abra investment application will sell cryptocurrencies at 6,000 outlets in the Philippines. To do this, he has entered into an agreement with a local payment company, ECPAY, which will give him access to its network, including 7-Eleven stores.
The minimum deposit amount will be 500 pesos ($10), and a maximum of 100,000 pesos ($1,900) can be deposited within one day. Users will be charged a 2% commission. All cryptocurrencies supported by the Abra wallet will be available for purchase.
"Abra users in the Philippines can now quickly and easily convert pesos to Abra and use them to invest in cryptocurrencies or popular stocks such as Google, Amazon and Facebook, opening up a whole new world of opportunities for capital growth," said Abra CEO Bill Barhydt.
Abra currently supports 30 digital and over 50 fiat currencies.
In February, the company announced that it would allow its customers to invest in ETFs and stocks using cryptocurrencies.