The entire team at Abra is here as your trusted partner for all things crypto.
I want to address the current turmoil in the market and the news regarding Celsius and BlockFi. We’ve experienced incredible growth as a company and I have great conviction for the future of crypto. We all know that crypto is subject to extreme volatility.
Having a partner like Abra that is financially secure, has sound risk management practices, and has personalized service for every private client is absolutely essential. That’s why Abra is considered by many to be the best company for helping you manage your crypto wealth.
Abra has rigorous credit underwriting, risk management, and trading policies. Our yield and lending operations are in a strong position with no losses suffered. You’ve all heard me talk about our risk policies for the past two-plus years. It’s this commitment to excellence that has enabled our rapid growth in a safe and responsible manner.
We’re also aware of the issues facing Celsius and the recent issues with BlockFi. Abra has no exposure to Celsius or BlockFi and Abra has no relationship whatsoever with them. Our rigorous underwriting standards and risk management practices are protecting all of our funds. In short, Abra is open for business and thriving.
Established in 2014, Abra is on a mission to create a simple and honest platform that enables millions of cryptocurrency holders to maximize the potential of their assets. Abra enables both individuals and businesses to safely and securely buy, trade, and borrow against cryptocurrencies – all in one place. Abra’s vision is an open, global financial system that is easily accessible to everyone.
Based in the United States, Abra is available in over 150 countries and makes it easy to convert between crypto and a wide variety of local fiat currencies. With over 2MM customers, $7B in transactions processed, and $1.5B in assets under management, Abra continues to grow rapidly. Abra is widely loved and trusted – in April 2022, pymnts.com reviewed and rated Abra amongst the top 5 most popular crypto wallets in the market. Abra is backed by top-tier investors such as American Express Ventures and First Round Capital.
How Abra Protects Your Funds
Abra places clients’ financial objectives and security first. Abra practices a culture of risk management across all levels and functions within the organization.
Abra employs a state-of-the-art enterprise risk management framework that comprises a comprehensive set of policies, procedures, and practices detailing all applicable risk-related objectives and constraints for the entirety of the business. Abra has instituted a complete set of requisite systems and controls that continuously enforce these policies, procedures, and practices to manage all operations, including credit and lending. Abra’s independent Risk Committee comprises experienced compliance, risk, securities, and fraud operations professionals with backgrounds in industries ranging from traditional and digital assets banking, payments, remittance, to fintech.
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