Abra plans a $750 million Nasdaq listing via SPAC merger, targeting tokenized yield products and onchain lending for institutional investors.
Abra is pivoting toward tokenization and wealth management as it prepares for a Nasdaq debut through a $750 million SPAC merger. The company aims to list under the ticker ABRX this summer, pending regulatory approvals, and will rebrand as Abra Financial Inc.
The firm is expanding beyond crypto trading and custody, launching BTCAF, a yield-bearing bitcoin product, and USDAF, a tokenized dollar offering. CEO Bill Barhydt said tokenization and DeFi-powered lending will drive the next phase of institutional crypto adoption, shifting focus from bitcoin price movements.
Abra, founded in 2018, initially offered a full crypto banking service, combining trading, earning, borrowing, and payments. The SPAC deal, announced in March, reflects growing demand for structured crypto financial products among traditional investors.