Abra has launched a new service called Abra Treasury, specifically designed for businesses, family offices, and non-profits who want to hold bitcoin as a reserve asset on their balance sheets. The service, operated by Abra Capital Management, a registered investment advisor, offers an integrated solution combining custody, trading, borrowing, and yield services within separately managed accounts. This means clients maintain ownership and control over their digital assets. The move comes as more companies, like MicroStrategy, are adopting bitcoin as a reserve asset amidst economic uncertainty and rising inflation. Abra sees growing interest, particularly from SMBs, to buy BTC for their treasury or borrow against it to finance operations or real estate projects. However, it's important to note that Abra recently settled with 25 state financial regulators for operating without proper licenses, and will return up to $82.1 million in crypto to U.S. customers as part of the agreement.
Key Points:
Abra launches Abra Treasury for companies holding bitcoin as a reserve asset.
Offers integrated solutions for custody, trading, borrowing, and yield services.
Clients retain ownership and control over their digital assets through separately managed accounts.
The move comes as more companies, like MicroStrategy, adopt bitcoin as a reserve asset due to economic uncertainty and inflation.
SMBs show interest in buying BTC for their treasury or borrowing against it to finance operations and real estate projects.
Abra recently settled with 25 states for operating without proper licenses and will return up to $82.1 million in crypto to U.S. customers.
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