Why is Abra forming Abra Bank and Abra International?

Abra believes that the best way to become the default Web3 wallet and crypto bank for everyone is by embracing a global regulatory framework that provides for transparency, oversight, security, and agency.

Transparency means that Abra is committed to public disclosures on assets, liabilities, and risk management processes.

Oversight means that Abra will work with global regulators, including U.S. federal and state banking regulators, to rightsize our compliance and legal oversight to minimize customer disruptions while ensuring adherence to local laws and regulations wherever applicable.

Security means that Abra is committed to ensuring that the protection of customer funds and digital assets are always the top priority for Abra.

Agency means that your assets remain your assets – it’s as simple as that. We believe in the ethos of “not your keys not your crypto,” but we recognize that people and companies need help to manage their digital assets. Abra will provide the on-ramps, off-ramps, and transactional services to make crypto and Web3 work for everyone.

Abra believes that the only way to achieve the above and serve our customers responsibly and sustainably is by operating as regulated entities starting with Abra Bank in the U.S. and Abra International outside the U.S. More information about Abra Bank and Abra International can be found here.