Crypto Finance Startup Amber Raises $28M in Series A Led By Pantera, Paradigm
Amber Group, a Hong Kong-based startup providing a spread of cryptocurrency finance providers, has raised $28 million in a Series A spherical.
Leading the funding are Paradigm and Pantera Capital, with Polychain Capital, Blockchain.com, Coinbase Ventures and Fenbushi Capital additionally taking part. Existing investor Dragonfly Capital was additionally on board.
Announcing the information on Friday, Amber mentioned the funding funds can be used to increase its operations to fulfill shopper demand and add new options to its platform.
“While the industry has come a long way, there is still plenty of work to do in order to meet the growing demands of clients in a fragmented market.” mentioned Michael Wu, Amber Group CEO. “We’re thrilled to associate with a number of the world’s main traders and crypto corporations to speed up our mission of strengthening the crypto finance ecosystem.”
The agency provides purchasers providers akin to crypto-based digital market making, automated OTC buying and selling, and collateralized lending. It already has purchasers together with exchanges, mining corporations and swimming pools, wallets and hedge funds, in accordance with its announcement.
“Our most profitable investments have been once we’ve discovered corporations doing one thing higher than we are able to ourselves,” said Dan Morehead, founder and CEO of Pantera Capital. “Amber dramatically improved our digital execution throughout a large spectrum of property.”
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