Crypto advisory services company Abra has unveiled two new products in its bid to expand its services to more sophisticated clients. In a press release issued on Wednesday, April 17, 2024, the firm announced the launch of the two integrated offerings—Abra Prime for institutional customers and Abra Private for private customers.
While Abra Private offers tailored solutions to private customers, trusts, and family offices, Abra Prime is designed to provide services to venture capitals, hedge funds, and crypto infrastructure companies, among many other institutional clients.
Currently, Abra offers its DeFi services and provides end users with more than 75 crypto tokens and stablecoins, such as USDC, DAI, TrueUSD, and Paxos. Its platform incorporates OTC trading (both options and spot), lending, yielding, staking, and asset management services into one product offering.
Marissa Kim, Lead of Asset Management, stated that the growing demand for a reliable and secure platform to earn yields on Bitcoin and other cryptocurrencies and borrow against holdings is becoming more prevalent. She further stated that the firm enables customers to access DeFi markets without going through the hassle themselves.
Bill Barhydt, the firm’s founder and CEO, noted that the crypto company was established over ten years ago to establish a new kind of borderless and trustless distributed global payment system. He added that the firm has evolved considerably since then, has capitalised on that experience, and offers an incorporated prime services and asset management offering powered by its DeFi expertise.
The company’s subsidiary, Abra Capital Management LP, recently acquired approval from the US Securities and Exchange Commission to function as a licensed investment advisor. The company claimed this approval was instrumental in launching new products to its customers in the United States.
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