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Crypto Heavyweight Amber Group Expands to New Regions With $100 Million Funding

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Mon, 08/02/2021 - 13:27
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Vladislav Sopov
With its latest nine-digit rise, Amber Group has earned a spot in Asian unicorns' ranking
Crypto Heavyweight Amber Group Expands to New Regions With $100 Million Funding
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Amber Group, one of the leading cryptocurrency market actors in Asia, has announced its massive plans to explode onto the global decentralization scene.

Global expansion for the new unicorn: Introducing GlobalX Center

According to an exclusive press release shared by Amber Group, it unveils a new global expansion plan. With this plan, it is going to start delivering its services to crypto enthusiasts from 140 countries worldwide.

Amber Group expands to new markets
Image via Amber Group

This expansion goes hand in hand with a jaw-dropping strategic funding round. With $100 million raised, Amber Group is now valued over $1 billion, making it the newest fintech unicorn in the APAC region.

To coordinate this unparalleled expansion, Amber Group appointed its partner, Annabelle Huang, as a leader of a dedicated unit, GlobalX Center. This department curates the operations of Amber Group and its products in new regions. Primarily, the GlobalX Center is focused on growing the Amber Group's presence in South Korea, Japan, Hong Kong, Singapore, Taipei, North America and so on.

Annabelle Huang, partner at Amber Group, emphasizes the paramount importance of the newly launched unit for the business development strategy of the company:

To build a truly global platform and serve a diversified user pool, we need dedicated efforts within different geographies to deliver customized and relevant products and services to our users. We are setting up a new Global X Center initiative to focus solely on expanding our overseas user base through localized strategies and offerings. This is a top priority for our team this year.

Michael Wu, co-founder and CEO of Amber Group, prioritizes expansion to the U.K. and U.S. markets and improving the user experience for the entire Amber App userbase:

We pride ourselves in being a truly global and diverse organization. It is important for us to work with clients across the US and UK markets because of the value they bring to the financial market. In order to meet client demand, our team will continue expanding global operations while developing market solutions for leading crypto investors and companies.

New partnerships, new regions

In 2021, Amber Group demonstrates eye-watering results in all segments of its offerings. It annualizes $500 million in net revenue and amassed more than $1.5 billion in assets under management.

Related
Amber Group Launches Unique Rewards Program on its Amber App, Teases Special Offer for New Users

Its flagship all-in-one crypto ecosystem, Amber App, recently introduced a special rewards program for new users. Also, Amber Group deployed many new interfaces to its application, including English, Simplified Chinese, Traditional Chinese, Korean, Spanish, Portuguese, Japanese, Turkish and Russian.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)