Cryptocurrency Trading Firm Amber Is Valued At $3 Billion Following Huge Investment From Singapore

Amber Group secured a $200 million investment, which has seen its valuation triple since last summer.

Crypto finance services provider Amber has secured a $3 billion valuation following a funding round led by Singapore state-owned investment firm Temasek Holdings. Amber Group successfully raised $200 million in its series B+ funding round, it was announced on February 21. Other participants included Sequoia China, Pantera Capital, Tiger Global Management, Tru Arrow Partners, and Coinbase Ventures.Amber has tripled its valuation since last June, when its series B funding round valued it at $1 billion. The company, founded in Hong Kong by former Morgan Stanley traders, currently has $5 billion in assets under management.

The firm stated that it plans to use 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 mobile-based crypto investment platform WhaleFin.

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