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Amber Group, a Hong Kong-based startup providing a variety of cryptocurrency finance companies, has raised $28 million in a Sequence A funding spherical.
Main the funding are Paradigm and Pantera Capital, with Polychain Capital, Blockchain.com, Coinbase Ventures and Fenbushi Capital additionally collaborating. Present investor Dragonfly Capital was additionally on board.
Amber stated Friday the funding funds can be used to develop its operations to satisfy consumer demand and add new options to its platform.
“Whereas the business has come a great distance, there’s nonetheless loads of work to do with the intention to meet the rising calls for of purchasers in a fragmented market.” stated Michael Wu, Amber Group CEO. “We’re thrilled to companion with among the world’s main buyers and crypto corporations to speed up our mission of strengthening the crypto finance ecosystem.”
The agency presents purchasers companies together with crypto-based digital market making, automated over-the-counter buying and selling and collateralized lending. It is purchasers embrace exchanges, mining corporations and swimming pools, wallets and hedge funds, based on its announcement.
“Our most profitable investments have been once we’ve discovered corporations doing one thing higher than we are able to ourselves,” stated Dan Morehead, founder and CEO of Pantera Capital. “Amber dramatically improved our digital execution throughout a large spectrum of property.”
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