Abra, a leading cryptocurrency wealth management platform, launched the Abra Perx Rewards Program, which will provide customers with exclusive access to Crypto Perx (CPRX), a new utility token created by the newly formed Crypto Banking Alliance (CBA). Based on their unique past usage of Abra, Users will receive a proportional amount of CPRX tokens upon token launch. In addition, other intriguing long-term benefits will be provided by Abra Perx.
What Is Abra?
Abra is one of the most popular cryptocurrency wealth management platforms. Abra’s objective is to build a simple and transparent platform that will assist the following billion crypto holders in realising the full potential of their holdings. It is a cryptocurrency exchange that allows users to earn a high income on their crypto assets, trade over 100 different cryptocurrencies, and borrow dollars against their crypto holdings. The platform has processed over $1 billion in cryptocurrency-backed loans and paid out millions of dollars in interest to retail and institutional customers. In addition, American Express, Foxconn, Blockchain Capital, RRE Ventures, Digital Currency Group, and other significant investors have invested over $75 million in this comapany.
What is the Crypto Banking Alliance?
The Crypto Banking Alliance, formally known as Auriga Alliance AG, was founded in Zug, Switzerland, to promote the safe and seamless implementation and adoption of cryptocurrency technology as a core component of the future of banking platforms. In addition, the Alliance’s goal is to raise public awareness about the benefits of cryptocurrencies and decentralised finance (“Defi”) in future banking.
For the safe and ethical use of Defi technologies such as cryptocurrencies and smart contracts, the Alliance will provide instructional resources, promotional campaigns, technical tools, code samples, and frameworks. Our objective is for a worldwide movement toward decentralised financial systems that integrate community and personal agency so that everyone who wants to participate can do so.
What does this new launch entail?
Abra’s fast-growing crypto wealth management platform users will earn considerable additional benefits by holding CPRX tokens in their accounts. The Abra Perx programme will provide all Abra clients with the following benefits after the token launch date:
· Cashback on all Abra Trade™ transactions,
· Bonus yield for all Abra Earn™ funds,
· Negative loan interest (lower effective rates) for any Abra Borrow™ loan,
· An ignition reward for new users who fund their account,
· Referral rewards for inviting friends who fund their Abra accounts, and
· Rewards recognising existing Abra users’ historical usage
CPRX tokens can be held for additional benefits or exchanged for Bitcoin, Ethereum, USDC, or other Abra-supported assets via Abra Trade. Abra expects CPRX to be listed on numerous cryptocurrency exchanges and DEX liquidity pools when the CBA launches its token on November 15. During the fourth quarter of 2021, the CBA is expected to announce the first exchanges that will support CPRX.
Abra will offer accelerators on CPRX prizes as a launch promotion. Abra will release details on the advertising in the coming days.
“The token economy is booming. We wanted to find a unique way to reward our loyal customers via this new token economy while doing something unique. Crypto Perx represents the perfect opportunity to do just that,” stated Bill Barhydt, Founder and CEO of Abra. “This new program enables us, via this unique partnership with CBA, to reward our customers for their loyalty, bolster the innovative products we have launched this year and further evolve the future of banking. We are committed to growing our community, and this partnership with CBA provides Abra users with a unique and revolutionary avenue to take advantage of the new token economy.”
“Abra is a true trailblazer in crypto wealth management and their customer-centric crypto banking strategy makes them the perfect launch partner for CPRX in the wallet space,” said Julian Hardy, Founder and Managing Director of the Crypto Banking Alliance. “We are pleased to help them offer their loyal customer base exciting incentives via the token economy as they revolutionise wealth management and continue to expand access to crypto assets safely and securely.”
The Perx program’s backbone is the CPRX utility token, designed to maximise yield for consumers and reward them for their loyalty while also opening up new avenues for participation on the platform. All customers can participate in the programme, which pays users with CPRX tokens for various account activities, including opening accounts, making referrals, and using Abra goods.