Abra’s Bill Barhydt says Wall Street’s next crypto bet is tokenization
Key takeaways
- The company plans to launch BTCAF, a yield-bearing bitcoin product, following growing demand for its USDAF tokenized dollar offering.
- In 2018, Abra became one of the first companies to offer what Barhydt describes as a full crypto banking service, allowing customers to trade, earn, borrow and make payments from a single platform.
- Eight years later, as the company prepares to go public through a merger with SPAC New Providence Acquisition Corp.
The company plans to launch BTCAF, a yield-bearing bitcoin product, following growing demand for its USDAF tokenized dollar offering. Barhydt sees tokenization and DeFi-powered lending as the next major narrative for institutional investors, eclipsing the industry’s long-running focus on bitcoin prices.Bill Barhydt built Abra around a simple idea: Crypto should function like a bank.
In 2018, Abra became one of the first companies to offer what Barhydt describes as a full crypto banking service, allowing customers to trade, earn, borrow and make payments from a single platform.
Eight years later, as the company prepares to go public through a merger with SPAC New Providence Acquisition Corp. III, he said he believes the industry is entering an entirely new phase.