As part of the process of forming Abra Bank in the U.S. and Abra International outside the U.S. (announced on Sept 12, 2022), Abra has launched Abra Boost! Abra Boost is a new product offering that will enable all qualified investors to deposit and earn interest on their digital assets.
Abra Boost is available to all non-U.S. individuals, institutional investors, and U.S. individuals who are accredited investors. This requirement will be in effect until Abra Bank launches in the U.S.
Note: Outside the U.S., Abra Boost is available to all individual and institutional investors with no additional action required.
How Can I Become an Accredited Investor with Abra?
Abra supports the following two methods to become a verified accredited investor:
- Income of over $200,000 as an individual, or over $300,000 when combined with a spouse for each of the last 2 years (also called as the “Income Standard”).
- Net worth or joint net worth with a spouse of at least $1 million, not including the value of their primary residence (also called as the “Net Worth Standard”).
To learn more about the documents required to fulfill either Standard, please click here.
Note: You can use either “Income Standard” or “Net Worth Standard” to become a verified accredited investor – you do not need to use both.
When you have your documents ready, you can contact Abra Customer Support to receive instructions to upload and submit.
What Happened to Abra Earn?
All qualifying existing customers of Abra Earn, including individual and institutional investors, are transitioned to Abra Boost. Abra Earn has stopped accepting new customers or assets. More information about the transition can be found here.
Abra Boost is available to all non-U.S. individuals, institutional investors, and U.S. individuals who are accredited investors. This requirement will be in effect until Abra Bank launches in the U.S.
Note: Outside the U.S., Abra Boost is available to all individual and institutional investors with no additional action required.
Are There Any Changes to Abra Trade and Abra Borrow?
You will continue to enjoy Abra Trade and Abra Borrow exactly as you do today – there are absolutely no changes to Abra Trade and Abra Borrow
The post Abra Boost is Here! appeared first on Abra.
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