As part of the process of forming Abra Bank and Abra International, Abra will launch Abra Boost on October 3, 2022. Abra Boost is a new product offering that will enable all qualified investors to deposit and earn interest on their digital assets.
In the U.S., Abra Boost will be available to all institutional investors and individuals who are accredited investors. This requirement will be in effect until Abra Bank launches in the U.S. More information about being verified as an accredited investor by Abra can be found here.
Outside the U.S., Abra Boost will be available to all individual and institutional investors.
What is an accredited investor?
An accredited investor is an individual or entity that meets certain legal requirements set by the Securities and Exchange Commission (SEC) that grant the individual or entity access to certain restricted investment offerings. The determination of whether an individual or entity qualifies as an accredited investor is based on a number of tests of financial sophistication, and can include either wealth or income test. The SEC’s guidance about the qualification criteria for accredited investors can be found here.