{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Scoop","title":"Abra CEO explains the benefits of a fully regulated bank for digital assets","html":"","width":"100%","height":180,"duration":2552,"description":"Full-service crypto platform Abra announced plans in September to establish the first fully regulated bank for digital assets in the U.S.\nAbra Bank is expected to go live in early 2023 and it will enable U.S. citizens to deposit their digital assets in a U.S.-regulated manner similar to traditional banking.\nIn this episode of The Scoop, Abra Co-Founder and CEO Bill Barhydt explains the advantage crypto banks have over traditional banks and how Abra Bank will enable fully regulated, interest-bearing accounts in the U.S.\nWhereas traditional banking services are available only during specific hours, Abra Bank will allow customers to interact with their assets at any point in time.\n“We fundamentally believe in this mantra of ‘not your keys, not your crypto.’ The irony of that in running a bank is not lost on me, but the point is that we are 100% committed to saying, ‘Okay, if it's your stuff and you want to move it to a Trezor or Ledger on Sunday at 2 a.m., please do it right now’” said Barhydt.\nIn addition to giving customers full control over their assets at any point in time, the fact that Abra Bank will be a U.S. state-charted institution means that it will be able to provide interest-bearing accounts. According to Barhydt,\n“Abra Boost, which is going to be our new offering for paying interest going forward, will be for accredited users, and then the goal is to make it available to retail once the bank fully launches.”\nEpisode 107 of Season 4 of The Scoop was recorded live with The Block's Frank Chaparro and Abra Co-Founder & CEO, Bill Barhydt.\nListen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to podcast@theblockcrypto.com.\nThis episode is brought to you by our sponsors Tron, Ledn\nAbout Tron\nTRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in...","thumbnail_url":"https://img.transistorcdn.com/kC6kzNjgr18dm0FmBfV_f9xccAkjj-QXoCJmVNlNtrU/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8xZmIz/N2E5MmRmMzJjOTU3/OTNhYjJkYzcxZTlj/MTU2Yi5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}