The latest funding round for Hong Kong-based Amber Group has seen its valuation increase to $3 billion following a $200 million investment from a Singaporean state investment giant.
saw it valued at $1 billion. The company, which was founded in Hong Kong by former Morgan Stanley traders, currently has $5 billion in assets under management.
The company stated that it plans on using the new investment to make “key hires to support our institutional business in Europe and the Americas,” and expand the global reach of its consumer-side WhaleFin mobile-based crypto investing platform."Digital assets are becoming an increasingly important category to watch, especially for institutional investors.”
Amber Group helps institutional and commercial investors invest in cryptocurrency. To date, it has over $1 trillion in cumulative trading volume. Amber Group’s growth is evidenced both by the increasing amount of funding it has received and the total number of its holdings. On Feb. 1, Japan-based crypto trading platform
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