Abra Year in Review! What’s Next?

Note: As of May 31, 2022, Abra Perx has been paused. Abra Perx rewards mentioned in the article below are no longer active. New ways of using CPRX are planned for the future. We will publish updated details at a later date.

With 2021 quickly moving into our rearview, the Abra team wanted to reflect on what a crazy but productive year we had and acknowledge all of our achievements and our users.

Despite the global pandemic and the major shifts in the crypto market, we were able to secure more funding, launch a rewards program for our users, add new coins to our platform, and release our new look.

Most of all we’re grateful for our users, who made all this possible.

Here’s a list of our more notable achievements in 2021, with a look at what’s to come in 2022.

Abra Secures Additional Funding

In September 2021, we announced that Abra secured $55 million in Series C fundraising — an enormous achievement. We’re grateful to our investors —  Amex Ventures, IGNIA, Blockchain Capital, and Stellar Development Foundation — that believe in our vision and made this possible.

Bart Stephens, Managing Partner at Blockchain Capital said, “Abra offers unmatched accessibility for every type of investor, which positions the company well for capitalizing on the growth in adoption and interest in cryptocurrencies globally.”

Alvaro Rodriguez Arregui, Managing Partner of IGNIA added, “As international investors ourselves, we recognize the need for safe and reliable access to the crypto ecosystem and are excited to support Abra.”

This funding was able to expand our services to more people worldwide. Abra now has nearly 2 million users from more than 150 countries. 

Adding Crypto to the Platform in Droves

With our growth and expansion in mind — as well as the investors who believe in our vision — Abra is expanding access to crypto to more people around the world and improving our products to best serve our users.

In fact, we added support for more than 20 new coins on the platform, including: 

  • Balancer (BAL)
  • Kusama (KSM)
  • Polkadot (DOT)
  • Uniswap (UNI)
  • AAVE Token (AAVE)
  • Filecoin (FIL)
  • Kybernetwork (KNC)
  • Band Protocol (BAND)
  • Renbridge (REN)
  • Wrapped (WBTC)
  • UMA (UMA)
  • The Graph (GRT)
  • Terra LUNA (LUNA)
  • Validity (VAL)
  • Avalanche (AVAX)
  • Crypto Perx (CPRX)
  • Terra USD (UST)
  • Sushiswap (SUSHI)
  • Golem (GLM)
  • Strike (STRK)
  • Polygon (MATIC)

You can find them all on Abra and add them to your portfolio. To do so, simply open the app, click trade, and type in the name of the coin you’re looking for.

Launching the Abra Perx Rewards Program

In November 2021, we launched a unique rewards program for our users — an incredible success. 

In partnership with the Crypto Banking Alliance (CBA), we introduced the Abra Perx Rewards Program that rewards Abra users with CPRX (the CBA’s utility token) for taking actions in the app.

CPRX is designed to promote the safe adoption and application of cryptocurrency on wealth management platforms. Now, it’s offered to Abra users for using our platform.

The partnership allowed Abra to receive a portion of CPRX tokens, and we’ve worked to give them all to our users. You receive CPRX by trading, earning, or borrowing on the Abra platform — which you can exchange for other tokens or hold them for more rewards.

Thanks to this partnership, Abra users can now:

  • Get 2.5% cashback on every trade
  • Get 5% bonus yield on every account
  • Get paid 5% APY to hold a loan
  • Get $25 for every referral (for U.S. users only)

The program was a first for Abra, but it won’t be our last rewards program. There is more to come in 2022.

Unveiling our New Look

The unveiling of our rebrand in December was a major feat for Abra. The new look and app experience reflects our evolution and how we want to best serve our users. 

With our new look, you’ll see that the app experience has improved, is even more intuitive, and reflects our new, vibrant brand colors, as well as our new logo. 

Our logo also represents our goal to empower users from over 150 countries worldwide to take control of their financial future.

We want Abra to be an honest, easy-to-use app for our users. Our vision is an open, global financial system that is easily accessible to anyone. And, we want to help you take advantage of the opportunities that cryptocurrency can yield.

You can read more about your rebrand in our post here.

What’s Next for 2022?

We have to thank our users for believing in Abra and allowing us to help them achieve their crypto investing goals. Our mission is to offer people a simple and honest platform to buy, trade, hold, and earn interest in crypto — that everyone can access.

2021 was a fantastic year, but 2022 will bring more big news and significant innovative products that will excite our users.

Soon, we’ll announce new product developments, new coins listed, and partnerships that will help our users maximize their crypto investments.

Thank you for choosing Abra as your cryptocurrency platform, and we look forward to helping you continue your crypto journey in the New Year.

Let’s Conquer Crypto together. 

Join our community and find more people achieving their financial goals through crypto.

Download the Abra app on Android or iOS to begin trading or earning interest on cryptocurrency today!

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About Abra

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.

Why Abra

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, 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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