While 2018 was defined by crazy crypto market movements, it was also a year of tremendous growth and innovation across the entire industry.
Here at Abra, it was an amazing year of progress and prosperity!
At the beginning of the year, we launched a decentralized investing platform enabling investors to buy and hold 20 cryptocurrencies using a novel synthetic currency model.
Over the rest of the year, the number of cryptocurrencies available in an Abra wallet continued to grow, with the total number now at 30 (and more on the way in 2019).
In October, we launched the BIT10 crypto index — the first of its kind easily accessible index that tracks the top ten cryptos by market cap (or exposure to roughly 80% of the crypto market). One of the greatest things about the BIT10 is that it only requires a minimal buy-in of $5 and it is rebalanced monthly. This makes the power of index investing available to everyone, everywhere.
We also added more native crypto functionality — Abra wallets now support direct deposits and withdrawals of bitcoin, bitcoin cash, and litecoin. In addition, Abra users can now fund wallets with traditional fiat using credit and debit cards, and with bank accounts across the US and Europe.
Wrapping up and looking forward
Maybe the best part of 2018 for the Abra team has been planning what’s ahead in 2019. As Abra founder and CEO Bill Barhydt said in a recent New Year’s video message:
“We are super excited about all of the things that we have in store for the coming weeks and months. We are going to bring you some really awesome new products, new features, and even new services.”
“I can’t give you all the details yet, but I can promise you that we are working on some groundbreaking stuff and I can’t wait to show it to you.”
Happy New Year from all of us at Abra!
Looking to stay up-to-date with the latest Abra announcements and events? Sign up here for our newsletter.
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.
Please visit our FAQ to learn more.