Due to the recent SEC action against Ripple Labs, Inc. and the current regulatory uncertainty surrounding the status of XRP in the United States, Abra plans to suspend trading in XRP for US customers at 3 PM PST on Friday, Jan 15th, 2021.
Until further notice, customers can continue to have access to their XRP wallet on Abra. Additionally, any withdrawals from the XRP wallet would also continue to be operational.
Abra will continue to monitor legal developments related to XRP and update our customers as more information becomes available. Please follow @abraglobal on Twitter to stay tuned with the latest announcements from Abra.
Have questions? Please reach us at [email protected], and we will be glad to help.
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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