According to TechFlow, Coindesk reported that Abra, a digital asset service and wealth management platform, announced the launch of Abra Treasury to provide services for companies that want to use Bitcoin as a reserve asset. The service is operated by Abra Capital Management, an investment advisor registered with the U.S. Securities and Exchange Commission (SEC). Abra Treasury will provide a range of digital asset management solutions including custody, trading, lending and income for companies, family offices and non-profit organizations. Customers can hold crypto assets through separately managed accounts, thereby retaining ownership of their digital assets.
Marissa Kim, head of asset management at Abra Capital Management, said that more and more non-crypto native companies are showing interest in using Bitcoin as a reserve asset, especially small and medium-sized enterprises and real estate companies. In addition, Abra and its founder and CEO William "Bill" Barhydt have reached a settlement agreement with financial regulators in 25 states to return up to $82.1 million in cryptocurrencies to U.S. customers.
