🚀 Abra Resumes Operations in the US
posted 1 Jul 2024
Asset management company Abra has launched the Abra Treasury, a crypto platform for corporate clients.
Abra Treasury will offer corporations, family offices, and nonprofit organizations services in cryptocurrency storage, trading, lending, and staking. The platform will be operated by Abra Capital Management, a subsidiary of Abra that is registered with the SEC as an investment advisor.
A sign of adoption and institutionalization of the digital asset industry has been the increase in non-crypto-native businesses showing interest in using bitcoin as a treasury reserve asset,said Marissa Kim, head of asset management at Abra Capital Management.
Last week, Abra resolved a dispute with officials from 25 states over allegations of providing financial services without the necessary licenses. As part of the settlement, the company ceased its Abra Trade service in the US and agreed to return $82.1 million to its customers.
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