PANews reported on July 1 that according to CoinDesk, digital asset service and wealth management platform Abra announced the launch of Abra Treasury to provide services for companies that want to hold cryptocurrencies as reserve assets on their balance sheets. The service will be operated by Abra Capital Management, an investment advisor registered with the US SEC, and will provide a range of digital asset financial management solutions for companies, family offices and non-profit organizations.

Abra Treasury’s product combines custody, trading, borrowing and yield services, and clients can hold their cryptocurrencies in separately managed accounts, enabling them to retain ownership of their digital assets, the company said.