Temasek Invests in Crypto Platform Amber Group
Posted on 02/22/2022
Hong Kong-based Amber Group (Amber Global Limited) is a global digital asset platform. Amber Group raised US$ 200 million in a Series B+ round led by Singapore-based Temasek Holdings, with participation from existing shareholders including Sequoia China, Pantera Capital, Tiger Global Management, Tru Arrow Partners, and Coinbase Ventures among others. A significant follow-up to Amber Group’s 2021 US$ 100 million Series B round, this Series B+ round is the largest investment in Amber Group, valuing the company at US$ 3 billion. Total capital raised at Amber Group now stands at US$ 328 million.
Founded in 2017, Amber Group has developed expertise in servicing both institutional and consumer markets. With global operations across 12 cities, the Singapore-headquartered company is a liquidity provider, offering clients services that include algorithmic execution, electronic and OTC market-making derivatives, structured products, and advisory services. Amber Group also offers a consumer app, WhaleFin, and a full set of creative services and infrastructure in its OpenVerse business. Amber Group has cumulative transaction volume surpassing US$ 1 trillion and assets under management growing to over US$ 5 billion since its inception.
On February 1, 2022, Amber Group announced it acquired DeCurret Inc. (DeCurret), the crypto asset exchange subsidiary of DeCurret Holdings, Inc., by Amber Group subsidiary WhaleFin Holdings Japan K.K (WhaleFin Japan). The transaction marked Amber Group’s entry into Japan, having acquired a Crypto-Asset Exchange Service Provider (CAESP) registered with Japan Financial Services Agency (FSA). As one of the 30 registered CAESPs operating in Japan since 2018, DeCurret is a crypto exchange in the market. Backed by 35 shareholders including leading Japanese financial institutions and corporations, DeCurret pioneered the introduction of an electronic money charge service for crypto-assets, and led the industry in making cryptocurrency more accessible to consumers.