Abra is a global cryptocurrency exchange and custodian that provides crypto services to investors in more than 150 countries.
It not only provides users with access to more than 100 cryptocurrencies, but also allows them to earn interest, take out loans (with interest rates as low as 0%) or use over-the-counter trading services.
Users outside the US can invest in stocks and ETFs. This includes Facebook, Netflix, Tesla, Amazon, SPDR Gold Trust and Vanguard FTSE Europe among others.
Abra has processed over $2 billion in crypto-backed loans and paid millions of dollars in interest to retail and institutional clients.
In June 2022 they announced a partnership with Amex to launch an own credit card with crypto rewards.
In 2020, Abra was charged by the SEC and CFTC for unregistered security-based swap transactions.
Abra paid a total of $300,000 in fines to both regulatory agencies
Abra was founded in 2014 in the Silicon Valley by Bill Barhydt (Linkedin) and Jim Robinson.
As a result of the compliance issues and the poor internet rating, we place Abra on our “Orange Compliance” list.