TechFlow news, according to Coindesk, Abra, a digital asset services and wealth management platform, has announced the launch of Abra Treasury, a service designed for companies interested in holding bitcoin as a reserve asset. Operated by Abra Capital Management, a U.S. Securities and Exchange Commission (SEC)-registered investment advisor, Abra Treasury will offer enterprises, family offices, and nonprofit organizations a suite of digital asset management solutions including custody, trading, lending, and yield generation. Clients will hold crypto assets through separately managed accounts, maintaining ownership of their digital assets.
Marissa Kim, Head of Asset Management at Abra Capital Management, said growing interest in bitcoin as a reserve asset is coming from non-crypto-native businesses, particularly small and mid-sized enterprises and real estate firms. Additionally, Abra and its founder and CEO William “Bill” Barhydt have reached settlement agreements with financial regulators across 25 states, under which they will return up to $82.1 million in cryptocurrency to U.S. customers.
