Digital Assets: Wealth Management App Abra To Offer Loans Against Crypto @ 0%

June 4, 2021 | Digital Assets, News

Users can borrow against BTC and ETH on the ABRA platform.

Abra, a crypto-based wealth management platform that trades over 100 cryptocurrencies and is fully compliant, offers interest of up to 10.5% on select digital assets through its Abra Earn feature. The crypto platform announced Wednesday its Abra Borrow in-app feature that will allow users to borrow against bitcoin and ethereum at a 0% rate of interest. (Intrado Globe Newswire)

Borrow against crypto

Further users can withdraw TUSD directly into a bank account. Therefore, Abra Borrow is a personal line of credit that can be drawn at a moment’s notice. It can be used to pay for urgent reasons such as a down payment on a home, college tuition, buying a car, medical bills, or buying more cryptocurrency.

“Offering 0% interest through Abra Borrow lets customers quickly access 10% of their holdings for free while still gaining the benefit of any upside price movement of those holdings. Nothing like this has ever been done before,” said Bill Barhydt Founder and CEO. “With more people owning crypto now than ever before, having tools to effectively manage and access gains are essential to a flourishing crypto ecosystem. We are fully committed to being a leader in this new and growing space.”

However, note that the zero interest facility will be made available for only 10% LTV, and is being billed on the site as “coming soon.”

Current Abra interest rates for loans are 3.95% APR (20% LTV); 7.75% APR (33% LTV); and 9.95% APR (50% LTV). Loan terms are 6/12/18/24 months.

Related Story:   Crypto Lender BlockFi Snags $350M In A Series D Funding Round

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Alternative Investments/Digital: State Street Digital, A New Division At State Street, To Focus On Crypto

State Street (NYSE: STT), which has $40.3 trillion in assets under custody or administration, said Thursday it is establishing a new digital finance division called State Street Digital. The new…
Venture Capital: UAL Floats United Airlines Ventures For Innovation In Travel And Sustainability

United Airlines (NASDAQ: UAL) announced its new corporate venture fund, United Airlines Ventures, on Thursday. The fund’s brief is to invest in emerging companies that could reinvent travel and aviation…
Digital Assets: IMF Has Reservations On El Salvador’s Bitcoin Move
June 11, 2021     Digital Assets, News

The IMF warned Thursday that El Salvador’s move to adopt bitcoin as a legal currency in parallel with the US dollar could have various economic and legal repercussions. El Salvador’s…
FinTech: Mexican Payments Platform Clip Raises $250M, Turns Unicorn
June 11, 2021     FinTech, News, Venture Capital

Clip, a Mexican digital payments and commerce platform founded in 2012, announced June 10, its raise of $250 million in a round led by the SoftBank Latin America Fund and…