Amber Group achieved unicorn standing final June.
Amber Group has raised $200 million in a funding spherical led by Singapore’s state-owned funding agency Temasek, boosting the valuation of the crypto monetary providers agency to $3 billion. It was valued at $1 billion about seven months in the past.
In line with an organization assertion issued on Tuesday, different buyers embody present shareholder Sequoia China, Tiger World Administration, the enterprise capital arm of cryptocurrency change Coinbase, and former Tiger Administration. It consists of Pantera Capital, a cryptocurrency hedge fund based by executives.
Amber Group achieved unicorn standing with its last funding spherical in June. The corporate mentioned it’ll use the brand new capital to rent extra workers to help its institutional enterprise in Europe and America. This capital may also be used to broaden the protection of our crypto funding platform globally.
In a press release, Forbes 30 Below 30 Asia 2019 co-founder and CEO Michael Wu mentioned: “We’re proud to have the help of buyers who not solely share this imaginative and prescient, however have the capital and belief to assist us obtain it.”
Amber Group is claimed to be contemplating an preliminary public providing in the USA subsequent yr, in line with media stories. The agency was based in 2017 by a gaggle of Morgan Stanley quant merchants. It not too long ago moved its headquarters from Hong Kong to Singapore. Rules rolled out by the Southeast Asian nation in early 2020 allowed exchanges to use for working licenses, which many see as crypto-friendly.
Amber Group offers a platform for buying and selling and investing in cryptocurrencies utilizing digital property. The startup claims to have collectively processed over $1 trillion in cryptocurrency transactions and managed over $5 billion in digital property.
The corporate operates in Asia, Europe and the Americas, and has obtained regulatory approvals from Australia, Switzerland and the UK, in line with an organization assertion. The corporate not too long ago expanded into Japan by its acquisition of DeCurret, an area cryptocurrency change licensed by the Japanese monetary regulator.
