Amber Group Valued at $1B in $100M Funding Round

0
125

Cryptocurrency financial services firm Amber Group has added $100 millionas a successful Series B fundraiser, bringing its total pre-money valuation to $1 billion.

With operations in Hong Kong, Taipei, Seoul and Vancouver, Amber Group said it plans to use the funding to expand its global operations. CEO Michael Wu said “expand global operations to meet client demand and develop market solutions for the world’s leading crypto investors and companies”.

Measures of trade volume and total assets under management showcase Amber Group’s significant growth over the past four years. The company now has over $1 billion in assets under management, with more than $500 billion worth of cumulative trade volumes.

The firm offers algorithmic trading, high-frequency trading and over-the-counter trading to a deep roster of 500 institutional clients, the firm said in April.In terms of notional trade volume, Amber Group ranks 21st among global exchanges, according to BitMEX data.

In addition to its Series B backers, Amber Group has received direct funding from some of blockchain’s biggest venture funds, including Pantera Capital, Coinbase Ventures and Blockchain.com.