HONG KONG (AP) — Amber Group, the world’s top crypto trading and technology company, said today that it will devote considerable resources to expanding its geographic reach around the globe in order to better serve consumers in over 140 countries and territories. Amber Group increased its pre-money valuation to $1 billion, 10 times its previous Series A round, after achieving unicorn status with its current $100 million round. Amber Group is one of Asia’s fastest-growing firms, with annual revenues of $500 million and a workforce of 370 employees spread across the globe.
Amber Group, which was founded in 2017, works with both institutions and individual investors. Amber Group is one of Asia’s leading crypto finance service providers, with offices in Hong Kong, Taipei, Seoul, and Vancouver. It specializes in algorithmic trading, electronic market-making, high-frequency trading, OTC trading, borrowing and lending, derivatives, and other structured products.
Amber Group named Annabelle Huang, a partner, to oversee GlobalX Center, a strategic global expansion team created to enhance the company’s institutional and retail product offerings in regions like South Korea, Japan, Hong Kong, Singapore, Taipei, North America, and more.
“To establish a truly global platform and serve a diverse user pool, we require committed efforts across several geographies to bring personalized and relevant products and services to our users,” said Amber Group partner Annabelle Huang. “We’re launching a new Global X Center effort that will be entirely focused on growing our international user base through customized methods and products. This is our team’s top priority this year.”
The Amber Group focuses on opportunities at the crossroads of trade and financial technology. The firm manages around $1.5 billion in AUM and is active in the DeFi industry as a liquidity provider and trader. Amber Group introduced their mobile app, ‘Amber App,’ in early Q3 2020 to provide an enhanced suite of features to aid consumers in obtaining optimal investment returns. Since the introduction in December 2020, the number of registered users has increased fourfold to over 100,000. English, Simplified Chinese, Traditional Chinese, Korean, Spanish, Portuguese, Japanese, Turkish, and Russian are now supported by Amber App.
“We take pride in being a truly global and varied organization,” stated Michael Wu, Amber Group’s Co-Founder and CEO. “Because of the value they provide to the financial system, it is critical for us to collaborate with clients across the US and UK markets. Our team will continue to expand global operations while providing market solutions for prominent crypto investors and companies in order to meet client demand.”
To reach more consumers, a focus on crypto financial education has been critical. Contentos, a blockchain-based decentralized content ecosystem, and Platinum Academy, a financial education platform established in the United Kingdom, are among Amber Group’s partners.
Amber Group’s Background
Amber Group is one of the world’s major crypto finance service providers, having offices in Hong Kong, Taipei, Seoul, and Vancouver that are open 24 hours a day, seven days a week. Amber Group has received $128 million in funding to date from China Renaissance Group, Tiger Global Management, DCM Ventures, Tiger Brokers, Sky9 Capital, Arena Holdings, Tru Arrow Partners, A&T Capital, Gobi Partners, Paradigm, Pantera Capital, Coinbase Ventures, Blockchain.com, Polychain Capital, Dragonfly Capital, and Fenbushi Capital.