Abra Launches Treasury Service for Corporates That Want to Hold Crypto
Summary
Abra has launched Abra Treasury, a service for corporates to hold crypto on their balance sheet as a reserve asset. The service, operated by Abra Capital Management, offers custody, trading, borrowing, and yield services. The uncertain macro environment has led corporate treasurers to consider adding bitcoin to their balance sheets. Abra and its CEO settled with 25 state financial regulators for operating its mobile application without proper licenses and will return up to $82.1 million in crypto to U.S. customers in the settling states.
