Amber Crypto Trading Platform Valued $3B After Major Investment

The Amber crypto trading platform got valued at $3 billion after a major investment from Singaporean state-owned investment company Temasek Holdings as we read furhter in today’s latest cryptocurrency.

Amber Group secured a $200 million investment that resulted in a 3x increase in the valuation since last summer. The crypto finance service provider Amber recorded a valuation of $3 billion following a funding round by Singaporean state-owned Temasek Holdings. The Amber crypto trading platform was able to raise $200 million in the Series B+ Funding round and other participants like Pantera Capital, Sequoia China, Tiger Global Management, Coinbase Ventures, and Tru Arrow PArtners.

We are excited to announce our Series B+, which comes at a time of rapidly increasing crypto adoption globally. The investment reinforces Amber Group’s strategic alignment with its investors, as well as a shared vision of digital assets’ future in a new, digital economy. #wagmi pic.twitter.com/6EOHd1H8Gx

— Amber Group (@ambergroup_io) February 22, 2022

Amber has increased its valuation by three times since a year ago when its Series B round of funding that saw the valuation at $1 billion. The company was founded in Hong Kong by former Morgan Stanley traders and has $5 billion in assets under management. The company stated that it has plans to use the new investment to make key hires to support the businesses in America and Europe and also expanded the global reach of the consumer-side WhaleFin mobile-based investing platform while Steven Ji, who is a partner at Sequoia China said:

“Digital assets are becoming an increasingly important category to watch, especially for institutional investors.”

Amber Group helps institutional investors to invest in crypto and up to date, it has over $1 trillion in trading volume. Amber Group’s Growth is seen by the increasing amount of funding that it recieved and the total number of holdings while Japan-based platform Decurrent sold the crypto operations to Amber Group after signaling the plans back in January.

Singapore was one of the best markets to crypto investors in the region and according to a KPMG report, the city saw $1.48 billion in crypto investment in 2021. this Is about 10 times more from 2020 but about 180 companies that applied for permits to operate the crypto business, only 5 were approved since January. Maybe in some small part due to the enhanced crypto investing, regulators started cracking down on the marketing tactics that crypto companies employ with new guidelines to advertisers issued back in January to ban ads from being placed in public areas like public transportation and print media.