Hong Kong-Based Crypto Unicorn Amber Group Eyes US Listing: Report

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Crypto monetary providers agency Amber Group is weighing a direct itemizing, with the usas the “likely destination,” in keeping with its CEO.

  • A direct itemizing is “on the table” within the subsequent two years, Michael Wu said in an interview with South China Morning Post.
  • “The U.S is a likely destination, but we’re open-minded,” he mentioned.
  • Aspects of Amber’s plans could elevate regulatory concern within the U.S. Amber permits clients to earn curiosity on crypto holdings by lending to different purchasers at a better price. Publicly listed crypto change Coinbase lately aborted plans to launch the same service after the Securities and Exchange Commission threatened to sue it for providing what it thought of to be an unregistered safety product.
  • Amber Group additionally presents algorithmic, high-frequency and over-the-counter buying and selling to institutional purchasers and has operations in Hong Kong, Taiwan, South Korea and Canada.
  • The firm attained unicorn standing in June following a $100 million funding spherical that gave it a valuation of $1 billion. Its traders embrace Tiger Global Management, Coinbase Ventures and Blockchain.com.

Read extra: The SEC to Coinbase: Crypto Banking Is Still Banking