Amber Group Raises $200M in Temasek-Led Round at $3B Valuation

Temasek, 1 of Singapore's large sovereign wealthiness funds, led a $200 cardinal investing circular successful Amber Group, a steadfast that provides liquidity and market-making services to clients passim Asia. The backing valued Amber Group astatine $3 billion.

• Amber Group said that it volition usage the proceeds to prosecute unit successful Europe and the Americas, citing organization request successful those markets.

• In June, Amber Group closed a $100 cardinal Series B circular that valued the steadfast astatine $1 billion, meaning that its valuation has tripled successful little than a year, adjacent though the crypto marketplace is shifting toward carnivore territory.

• Amber Group said it has much than 1,000 organization clients and much than $5 cardinal successful assets nether management.

• The steadfast was initially based successful Hong Kong, but its enforcement squad precocious moved to Singapore. It inactive maintains an bureau successful Hong Kong.

• Although Singapore has go little affable to crypto firms, discouraging them from targeting retail customers, firms similar Amber Group astir exclusively people organization clients, though it said it volition usage the backing circular to grow its retail offerings.

• Temasek has been an progressive capitalist successful the crypto market, and observers spot it arsenic having an concern strategy akin to SoftBank. GIC, Singapore’s different large fund, is besides contiguous successful the crypto market, but is simply a much blimpish investor.

• Amber Group said it volition usage immoderate of the caller superior to grow WhaleFin, a retail-targeted app that allows consumers to gain output connected their crypto holdings.

• Earlier this month, WhaleFin Holdings Japan acquired licensed speech DeCurret, which is besides based successful Japan.