MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Abra, a leading wealth management cryptocurrency platform, today announced the appointment of Justin McMahan as Chief Financial Officer, effective immediately. Mr. McMahan joins from Tower Research Capital, a high frequency trading and technology firm, where he served as Managing Director and Global Treasurer.
Mr. McMahan is a seasoned finance executive with over 20 years of experience in fintech, trading, capital markets, asset management, and wealth management. Most recently, Mr. McMahan held senior roles with increasing levels of responsibility at Tower Research Capital. Prior to joining Tower Research, he was a Managing Director and Head of Operations of Treasury & Client Services at Serengeti Asset Management, an investment management firm. He previously spent 13 years at Morgan Stanley, where he held a variety of roles, including Executive Director of Prime Brokerage Capital Introductions & Risk.
“Justin is an exceptional add to the firm as we continue to build out and differentiate our team with accomplished professionals across digital assets, traditional finance, and wealth management,” said Bill Barhydt, founder and Chief Executive Officer of Abra. “Justin’s proven track record in executing transformational financial services solutions and leading businesses through dynamic stages of their evolution will be instrumental as we expand our platform and democratize access to the crypto economy.”
“Bill is an established entrepreneur who has thoughtfully and successfully built a leading wealth management platform that makes accessing cryptocurrency easier, safer, and more reliable,” said Justin McMahan. “Abra has cemented itself as a dominant player in this disruptive space, and I am humbled to join this extremely talented team that is providing customers with truly unique access to cryptocurrency markets.”
The appointment of Mr. McMahan comes during a period of rapid growth for Abra. Over the last year, the number of active users grew over 300% in 2021 from the year prior, while transaction volume increased more than 660% during that same timeframe.
For more information on Abra and to download the app, please visit: https://abra.com/.
About Abra
Abra is the leading wealth management platform for crypto. Founded in 2014 by Bill Barhydt, Abra’s hundreds of thousands of users earn high yield on their crypto assets, trade over 100 different crypto currencies and borrow dollars against crypto holdings. Abra has processed over 1 billion dollars in crypto backed loans and has paid millions of dollars in interest payments to retail and institutional clients alike. Abra is headquartered in Silicon Valley with offices around the globe. For more information, visit https://www.abra.com/.