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Digital asset service platform Abra launches financial service Abra Treasury

Abra, a digital asset services and wealth management platform, has announced the launch of Abra Treasury, a service for businesses looking to hold cryptocurrencies as a reserve asset on their balance sheets. The service will be operated by Abra Capital Management, an SEC-registered investment advisor that will provide a range of digital asset financial management solutions to corporations, family offices, and nonprofits. The company said that Abra Treasury's product combines custody, trading, borrowing, and earnings services, allowing customers to hold their cryptocurrencies in a separately managed client, allowing them to retain ownership of their digital assets.