Amber Group, one of the fastest-growing crypto platforms, has become the latest digital asset firm to hit the valuation of $3 billion after the company secured $200 million in the Series B+ round led by Singapore-based Temasek.
The recent funding is the largest investment raised by Amber Group. In 2021, the digital asset services provider received $100 million in its Series B round. To date, the crypto platform has raised a total of $328 million.
The valuations of crypto firms around the world are rising. In March 2021, Blockchain.com raised $300 million in funding at a valuation of over $5.2 billion. In January 2022, FTX US secured $400 million in funding and topped the valuation of $8 billion.
According to Amber Group, the new funding will pave the way for the global adoption of crypto assets in a new digital economy. Founded in 2017, Amber Group is providing services to both institutional and consumer markets.
"From radically transforming the concept of ownership and value in the global economy, digital assets are redefining the way we live outside of the financial ecosystem. At Amber Group, we want to do more than just enable mainstream digital asset adoption. We want to help create a digital future where digital assets empower people with the opportunity and agency to shape a better world for all. We are proud to have the support of our investors who not only share this vision but also put their capital and trust in us to achieve it," said Amber Group's Global Chief Executive Officer, Michael Wu.
AUM and Volumes
Amber Group mentioned that the company has crossed the level of $1 trillion in cumulative transaction volume since its inception. Moreover, its assets under management have surpassed $5 billion amid strong global growth.
"Digital assets are becoming an increasingly important category to watch, especially for institutional investors,” Steven Ji, a Partner of Sequoia China, commented.
