Abra will no longer offer any services which utilize Prime Trust to Hawaiian residents starting 7/13/2022. This change is due to the upcoming expiration of Hawaii's digital currency sandbox program. We understand some extensions were granted but only for companies in the DCIL, of which Prime Trust is not currently a part of.
What does this mean to you if you are a Hawaiian 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 7/13/2022. Prime Trust services include: deposit or withdraw funds via a bank account using ACHs or Wires, holding funds in an Earn account, or taking out a loan using our Borrow product.
What do I need to do prior to 7/13/2022?
If you hold funds in an Earn account, you will need to move funds held in your Earn account to your Trade account.
If you have an outstanding loan with our Borrow product, you will need to pay off the loan before 7/13/2022 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 deposit funds using ACHs or Wires.
If you have any questions or no longer reside in Hawaii and need to change your address, please reach out to Abra support.
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