Abra, a cryptocurrency services provider, on Monday said that it was in the midst of launching ‘Abra Bank’, a U.S. state-chartered financial institution, and possibly, the crypto space’s first regulated bank. Abra Bank’s successful launch will mean that customers in the U.S. will be able to deposit and withdraw digital assets as well as get offerings in fiat currencies as well. Together with Abra Bank, Abra is also planning to launch Abra International which will serve as a similar entity for all customers outside U.S. According to the company statement, Abra Bank is expected to launch in 2023 while Abra International is expected to start services by late 2022.
