After securing $200 million in Series B+ funding from Temasek, a Singapore-based company, Amber Group has been able to become one of the fastest growing crypto platforms.
Amber Group’s recent investment is its largest. The Series B round of funding provided $100 million to the digital asset service provider in 2021. The crypto platform has raised $328 million to date.
Globally, crypto firms are gaining in value. Blockchain.com raised $300,000,000 in funding in March 2021 at a valuation exceeding $5.2 billion. FTX US raised $400 million in funding in January 2022 and topped the $8 billion valuation.
Amber Group claims that the new funding will allow for global adoption of crypto assets within a new digital economy. Amber Group was founded in 2017 and provides services to institutional as well as consumer markets.
Digital assets are revolutionizing the way we live, outside of the financial system. They have the potential to transform the notion of ownership and value. Amber Group is more than just enabling mainstream adoption of digital assets. We are committed to creating a digital future that empowers people to create better worlds. “We are proud to have the support from our investors who not just share this vision, but also put their money and trust in me to achieve it,” stated Michael Wu,Amber Group’s global chief executive officer.
Volumes and AUM
Amber Group stated that the company’s cumulative transaction volume has surpassed $1 trillion since its inception. In addition, the company’s assets under management has surpassed $5 Billion amid strong global growth. Steven Ji, a Sequoia China Partner, said, “Digital assets are becoming a more important category to monitor, especially for institutional investors.”
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