Crypto Company Abra Announces Plan for U.S. Crypto Bank

The crypto market is racked with turmoil right now, but that’s not stopping some companies from pushing the envelope. Innovation doesn’t slow down in a bust cycle, and Abra is showing this to be true. The company is announcing plans to take crypto to the next level — bridging traditional banking and decentralized finance (DeFi) for an American audience. And given the U.S. government’s recent interest in regulating the crypto world, the news comes as quite a surprise.

Abra is one of the leading crypto financial services companies in terms of offerings. Indeed, the company has been rapidly expanding the scope of its services to cover its bases and then some. In April, it rolled out its real estate service. Through this, investors could use cryptocurrency for collateral in order to receive home loans. In June, it continued this expansion with an American Express (NYSE:AXP) credit card which rewards purchases with Bitcoin (BTC-USD).