Abra Launches Treasury Service for Companies Holding Bitcoin

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.