Abra will no longer offer any services which utilize Prime Trust to Texas residents starting 1/27/2023.
What does this mean to you if you are a Texas resident?
What you can do:
You can continue to use your Abra Trade account, you can deposit, exchange and withdrawal cryptocurrencies.
What you cannot do:
You will no longer be able to utilize Prime Trust services starting 1/27/2023. Prime Trust services include: deposit or withdraw funds via a bank account using ACHs or Wires, or taking out a loan using our Borrow product.
What do I need to do prior to 1/27/2023?
If you hold funds in an Earn account (legacy), you can continue to hold funds and earn interest but you will be unable to deposit additional funds after 1/27/2023,
If you have an outstanding loan with our Borrow product, you will need to pay off the loan before 1/27/2023 in order to avoid the liquidation of your collateral to repay the loan.
If you wish to withdraw balances to your bank account, convert all desired cryptocurrency balances into TrueUSD and then withdraw to your banking institution.
If you wish to buy more cryptocurrency and keep using the Abra application as a cryptocurrency wallet, you can. Only deposits via ACHs or Wires will be removed.
If you have any questions or no longer reside in Texas and need to change your address, please reach out to Abra support.